Application of this Part of this Schedule
4
This Part of this Schedule applies while a write-down order has effect in relation to one or more liabilities of an insurer.
Financial Services and Markets Act 2000 PART 2 — Dealing with assets etc
Dealing with assets
5
The insurer may not dispose of, or otherwise deal with, any of its assets (whether in the United Kingdom or elsewhere) except— (a) in the ordinary way of the insurer’s business, or (b) with the consent of the PRA.
Paying variable remuneration
6
The insurer may not pay variable remuneration that is not regulated by a collective bargaining agreement, except with the consent of the PRA.
Distributions
7
The insurer may not make a distribution, within the meaning of Part 23 of the Companies Act 2006, except with the consent of the PRA.
Back to Financial Services and Markets Act 2000 — full text
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