202.This section enables either a transferee, or the transferor, or both, to apply to the court for an order sanctioning a transfer of an insurance or banking business.  Subsection (3) makes provision as to the court to which an application may be made. The appropriate court will depend on the country or territory in which the businesses are registered or have their head office.
Commentary on Sections Part Vii: Control of Business Transfers Section 107: Application for order sanctioning transfer scheme