In April we reported on the UK Treasury’s publication of a summary of responses to its consultation on certain changes to rules relating to insurance portfolio transfers (known as Part VII transfers) (see the post here).
Four draft statutory instruments (SIs) were annexed to the summary of responses. The first three of these SIs have now been laid before Parliament, and are expected to come into force at the end of June. The fourth will be laid before Parliament as soon as possible after the first three come into force and is expected to come into force before the end of July.
If you would like the read the Consultation Paper and the Summary please use the following links: