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insurance business transfer scheme

  1. (a) a scheme, defined in section 105 of the Act, which is in summary: a scheme to transfer the whole or part of the business of an insurer (other than a friendly society) to another body;
  2. (b) a similar scheme to transfer the whole or part of the business carried on by one or more members of the Society or former underwriting members that meets the conditions of article 4 of the Financial Services and Markets Act 2000 (Control of Transfers of Business Done at Lloyd's) Order 2001 (SI 2001/3626).36