The BMA will only propose the cancellation of the firm's license once it is satisfied that there are no longer any regulated activities for which it is necessary to keep the authorisation in force. In situations where it is necessary to keep the authorisation in force, for example where there are existing policyholder liabilities that have not been transferred under a portfolio transfer to another insurance licensee, the BMA will generally take alternative action, such as to place the firm in administration (in accordance with the procedures in Section EN-8.2) and only consider the cancellation of the license after other options such as the transfer of all or part of the portfolio to other insurers have been considered and, where appropriate, implemented.