Guernsey Scheme definition

Guernsey Scheme means a scheme of transfer in respect of the Guernsey Policies pursuant to section 44(1) of the Insurance Business (Bailiwick of Guernsey) Law, 2002;

Guernsey Scheme means the scheme for the transfer of the insurance business made up of the Guernsey Policies, as well as any Transferred Business Assets and any Transferred Liability attributable to any Guernsey Policy, which scheme requires sanction by the Guernsey Order;

Guernsey Scheme means the scheme of transfer referred to in paragraph 2.5(a);

Examples of Guernsey Scheme in a sentence

• The Guernsey Scheme and the Jersey Scheme are both conditional on the sanction of the Scheme by the Court and are expected to become effective on the same date.

• We are also carrying out separate schemes to transfer policies which may have been taken out in Jersey or Guernsey or which have been issued to people resident in Jersey or Guernsey.Similar to the Scheme in the UK, the Jersey Scheme and the Guernsey Scheme need the approval of the Royal Court of Jersey and the Royal Court of Guernsey, respectively.

• Unless and to the extent otherwise provided in this Guernsey Scheme, nothing in this Guernsey Scheme shall confer or purport to confer on any third party any benefit or the right to enforce any term of this Guernsey Scheme.

• It is proposed that, provided the Scheme in the UK has become effective, the Jersey Scheme and the Guernsey Scheme will become effective on the same date as the Scheme in the UK.See PART G of this guide for more information of the Jersey Scheme and the Guernsey Scheme.A3.

• This Guernsey Scheme shall be governed by and construed in accordance with the laws of the Island of Guernsey.

More Definitions of Guernsey Scheme

Guernsey Scheme means this scheme made pursuant to section 44 of the Insurance Business Law in its original form or with or subject to any modification, addition or condition which may be approved or imposed;

Guernsey Scheme means a scheme for the transfer of the Guernsey Business

Guernsey Scheme means the scheme for the transfer of insurance business from the Transferor to the Transferee in respect of the Guernsey Policies under section 44(1)(c) of the Insurance Business (Bailiwick of Guernsey) Law, 2002;

Guernsey Scheme means a scheme for the transfer of the Guernsey Businessfrom SLAC to SLAL pursuant to the Guernsey Law;

Guernsey Scheme the scheme of transfer referred to in paragraph 2.5(A);

Guernsey Scheme means the scheme for the transfer of the insurance business made up of the Guernsey Policies, as well as any Transferred Business Assets and any Transferred Liability attributable to any Guernsey Policy, which scheme requires sanction by the Guernsey Order; “Her Majesty’s Treasury’s Sanctions List” means the consolidated list of financial sanctions targets published by Her Majesty’s Treasury; “Historic Tax Liability” means any liability to Tax that is referable to any event occurring, or profits or gains arising, in connection with the Business as carried on by any member of the Transferor Group prior to the Economic Effective Date, but not including any Tax the cost of which is borne directly or indirectly by policyholders; “HMT Sanctioned Policy” means any Policy which has a positive match on Her Majesty’s Treasury’s Sanctions List; “Included Tax Claim” means:

Guernsey Scheme means the insurance business transfer scheme pursuant to section 44 of The Insurance Business (Bailiwick of Guernsey) Law, 2002 for, amongst other things, the transfer of certain long term insurance business of the Transferor to the Transferee, a copy of which is contained in Schedule 2 to this Jersey Scheme, subject to any modification, addition or condition which may be approved or imposed in accordance with its terms.