Schedule 13: Insurers in financial difficulties: enforcement of contracts Part 1 – New Schedule 19C TO FSMA 2000 New Schedule 19C Part 3 of new Schedule 19C: termination of relevant contracts
Paragraph 6 explains that contracts for goods and services, financial contracts (the meaning of which is defined further in sub-paragraphs (2) to (3)), and reinsurance contracts are "relevant contracts" potentially subject to the restriction on termination created by Paragraph 7.
	Paragraph 7 prevents relevant contracts, to which the insurer is a counterparty, terminating or being terminated by reason of the insurer being in "financial difficulties" as defined in Paragraph 2.
	Paragraph 8 provides for consent to be given, by the court and certain other parties, to the termination of contracts. These parties may give consent if satisfied that not providing consent would cause the counterparty hardship.