CAPI 9.1.4 Summary of scheme

The scheme report must include a summary of the proposed relevant scheme which contains, at a minimum, the following:

(a) the names and contact details of the transferor and transferee;
(b) a statement that the firm intends to transfer the policy or policies of interested parties to another insurer, on or after a stated date;
(c) a short explanation of the likely effects of the transfer on interested parties, including any action that interested parties must or may take before, or because of, the transfer;
(d) information about the right of interested parties to be heard at a hearing on the application for approval of the scheme;
(e) if interested parties do not need to take any action before, or because of, the transfer-a statement to that effect;
(f) the compensation (if any) offered to interested parties for any loss of rights or expectations;
(g) a statement about how the relevant scheme compares with alternative schemes considered by the entity that prepared the scheme report;
(h) how interested parties can obtain further information and inspect relevant documents as may be available for public inspection.
Derived from QFCRA RM/2011-1 (as from 1st July 2011)