GIM6380 - Technical provisions: periods of account beginning on or after 1 January 2000: General Insurance Reserves (Tax) Regulations: insolvent companies

Regulation 6: insolvent companies

Regulation 6 excludes companies in liquidation, administration, provisional liquidation, or a relevant arrangement or compromise under ICTA88/S74 (2), from the operation of section 107.

The 2003 amendments revised this regulation so that with effect from accounting periods ending on or after 5 December 2003, an insurer in provisional liquidation or subject to a relevant compromise is not excluded from the rules unless it is actually insolvent.