Re Names at Lloyd’s for 1992 and prior years of account represented by Equitas Ltd Re Equitas Insurance Ltd (formerly Speyford Ltd) [2009] EWHC 1595 (Ch); [2009] All ER (D) 73 (Jul)
The court’s power, conferred by s 111 of the Financial Services and Markets Act 2000, to sanction a business transfer scheme was subject to a number of jurisdictional threshold conditions set by Pt VII of the 2000 Act, namely: (i) the scheme had to be a business transfer scheme; (ii) the ‘requirements’ imposed by s 108(1), to be found in the Financial Services and Markets Act 2000 (Control of Business Transfers) (Requirements on Applicants) Regulations 2001, SI 2001/3625, had to be complied with save and to the extent that the court had waived them; (iii) by s 109(1), there had to be a report on the terms of the scheme by a person fulfilling the qualifications set out in s 109(2) and the report had to be in a form approved by the Financial Services Authority; and (iv) by s 111(2), the court had to be satisfied that the appropriate certificates had been obtained
