Motor Insurance Insolvency Compensation Act 2024

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Publication of winding-up of insurer (domestic)

8. (1) Where an insurer (domestic) has become the subject of a winding-up decision, the Bank and the insurer (domestic) shall each, as soon as is practicable after that decision has been made but, in any case, not later than 5 working days after that decision has been made, give notice in writing to the Compensation Body of—

(a) that decision and the date on which it was made, and

(b) the name and address of the head office of the insurer (domestic).

(2) The Compensation Body shall, as soon as is practicable after it receives a notice under subsection (1) from the Bank—

(a) publish the notice on its website and in such other ways (if any) as it thinks fit, and

(b) give each compensation body (other) a copy of the notice.