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240: Interpretation
or “Definitions of key terms used in the Companies Act 1993 for closing down a company”
You could also call this:

“Special rules apply when putting a licensed insurer into liquidation”

If you want to put a licensed insurer into liquidation, you need to follow the rules in this part of the Companies Act. However, you also need to look at another part of a different law. This other law is called the Insurance (Prudential Supervision) Act 2010. Specifically, you need to check subpart 3 of Part 4 of that Act. This subpart has some special rules that you need to follow when liquidating a licensed insurer.

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Next up: 240B: Liquidation of associations

or “How to liquidate an association and what rules apply”
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Part 16 Liquidations
The process of liquidation

240ALiquidation of licensed insurers

  1. If a licensed insurer may be put into liquidation under or in accordance with this Part, this Part applies in respect of the insurer subject to subpart 3 of Part 4 of the Insurance (Prudential Supervision) Act 2010.

Notes
  • Section 240A: inserted, on , by section 241(2) of the Insurance (Prudential Supervision) Act 2010 (2010 No 111).