Schedule 12, Part I, paragraph 2(4)

“Necessary margin of solvency” means the margin of solvency required in relation to the transferee, taking the proposed transfer into account, under the law which it is the responsibility of the relevant authority to apply.

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Source: legislation.gov.uk · retrieved 2026-09-04 · Text as consolidated on 2026-07-15; changes after this date are not shown.