.—(1) An application may be made to the court for an order sanctioning an insurance business transfer scheme or a banking business transfer scheme.
(2) An application may be made by—
- (a) the authorised person concerned;
- (b) the transferee; or
- (c) both.
(3) The application must be made—
- (a) if the authorised person concerned and the transferee are registered or have their head offices in the same jurisdiction, to the court in that jurisdiction;
- (b) if the authorised person concerned and the transferee are registered or have their head offices in different jurisdictions, to the court in either jurisdiction;
- (c) if the transferee is not registered in the United Kingdom and does not have his head office there, to the court which has jurisdiction in relation to the authorised person concerned.
(4) "Court" means—
- (a) the High Court; or
- (b) in Scotland, the Court of Session.".—[Miss Melanie Johnson.]
Brought up, read the First and Second time, and added to the Bill.
