This is a term used to describe the process of transferring insurance business from one insurance company to another using the legal mechanism set out in Part VII of the Financial Services and Markets Act 2000. The process includes various protections for policyholders, including the right for policyholders to make representations at the court hearing, the appointment of an Independent Expert to report to the High Court on the terms of the transfer and the requirement for the High Court to be satisfied that it is appropriate, in all the circumstances, for it to approve the transfer.