The Payment and Electronic Money Institution Insolvency Regulations 2021

• Financial Markets and Insolvency Regulations 1991[^f00067]

• Financial Markets and Insolvency Regulations (Northern Ireland) 1991

• Land Registration Rules (Northern Ireland) 1994

• Insolvency Regulations 1994[^f00068]

• ...

• Insolvency Regulations (Northern Ireland) 1996

• Insolvent Companies (Reports on Conduct of Directors) Rules 1996[^f00070]

• Financial Markets and Insolvency Regulations 1996[^f00071]

• Financial Markets and Insolvency Regulations (Northern Ireland) 1996

• Individual Savings Account Regulations 1998[^f00072]

• Corporation Tax (Simplified Arrangements for Group Relief) Regulations 1999[^f00073]

• Financial Markets and Insolvency (Settlement Finality) Regulations 1999[^f00074]

• Statutory Paternity Pay and Statutory Adoption Pay (General) Regulations 2002[^f00075]

• Statutory Paternity Pay and Statutory Adoption Pay (General) Regulations (Northern Ireland) 2002

• Financial Collateral Arrangements (No 2) Regulations 2003[^f00076]

• Insolvent Companies (Reports on Conduct of Directors) Rules (Northern Ireland) 2003

• Insolvent Companies (Disqualification of Unfit Directors) Proceedings Rules (Northern Ireland) 2003

• Insolvency Practitioners Regulations 2005[^f00077]

• Pension Protection Fund (Entry Rules) Regulations 2005[^f00078]

• Pension Protection Fund (Entry Rules) Regulations (Northern Ireland) 2005

• Gender Recognition (Disclosure of Information) (England, Wales and Northern Ireland) (No 2) Order 2005[^f00079]

• Gender Recognition (Disclosure of Information) (Scotland) Order 2005[^f00080]

• Financial Assistance Scheme Regulations 2005[^f00081]

• Insolvency Practitioners Regulations (Northern Ireland) 2006

• Land Registration (Scotland) Rules 2006[^f00082]

• Companies (Cross-Border Mergers) Regulations 2007[^f00083]

• Regulated Covered Bonds Regulations 2008[^f00084]

• Company, Limited Liability Partnership and Business (Names and Trading Disclosures) Regulations 2015[^f00085]

• Land Registration (Network Access) Rules 2008[^f00086]

• Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008[^f00087]

• ...

• Companies (Disclosure of Address) Regulations 2009[^f00089]

• Additional Statutory Paternity Pay (General) Regulations 2010[^f00090]

• Additional Statutory Paternity Pay (General) Regulations (Northern Ireland) 2010

• Registrar of Companies (Fees) Companies, Overseas Companies and Limited Liability Partnerships) Regulations 2012

• Statutory Parental Bereavement Pay (General) Regulations 2020[^f00091]

• Statutory Parental Bereavement Pay (General) Regulations (Northern Ireland) 2023

• Statutory Neonatal Care Pay (General) Regulations 2025

3

References to—

• (a) a Schedule B1 administrator are to be read as if they were to an administrator appointed under regulation 7;

• (b) Schedule B1 administration or insolvent administration are to be read as if they were to special administration;

• (c) a Schedule B1 administration order are to be read as if they were to a special administration order;

• (d) insolvency legislation, the general law of insolvency, the enactments relating to insolvency and similar expressions are to be read as if they were to special administration and the provisions of the IA 1986 or the I(NI)O 1989 as applied and modified by these Regulations;

• (e) becoming insolvent and an insolvency event occurring are to be read as if they were to being put into special administration;

• (f) insolvency proceedings or an insolvency procedure are to be read as if they were to special administration;

• (g) winding up, being wound up, wound up by the court, going into liquidation and compulsory liquidation are to be read as if they were to being put into special administration;

• (h) a winding-up order are to be read as including a special administration order (and, in this context, references to a liquidator are to be read as if they were to an administrator);

• (i) a person acting as an insolvency practitioner within the meaning of section 388 of the IA 1986 or Article 3 of the I(NI)O 1989 are to be read as if they were to a person acting as an administrator under these Regulations;

• (j) the provisions of the IA 1986 and the I(NI)O 1989 are to be read as if they were to those provisions as applied and modified by these Regulations; and

• (k) the provisions of—

• (ai) the Insolvency Rules (Northern Ireland) 1991;

• (i) the Insolvency (England and Wales) Rules 2016[^f00092],

• (ii) the Insolvency (Scotland) (Company Voluntary Arrangements and Administration) Rules 2018[^f00093], and

• (iii) the Insolvency (Scotland) (Receivership and Winding up) Rules 2018[^f00094],

are to be read as if they were to the provisions of special administration insolvency rules;

• (l) insolvency or liquidation within the meaning of section 247 of the IA 1986 or Article 6 of the I(NI)O 1989 are to be read as if they were to special administration;

• (m) the purposes of the IA 1986 or the I(NI)O 1989 are to be read as if they were to the purposes of these Regulations.

Pensions Act 2004

4

• (1) In the Pensions Act 2004[^f00095], in section 121(3)(d), the reference to entering administration within the meaning of paragraph 1(2)(b) of Schedule B1 to the IA 1986 is to be read as if it were to entering special administration.

• (2) In the Pensions (Northern Ireland) Order 2005, in Article 105(3)(d), the reference to entering administration within the meaning of paragraph 2(2)(b) of Schedule B1 to the I(NI)O 1989 is to be read as if it were to entering special administration.

CA 2006

5

In the CA 2006—

• (a) in section 461—

• (i) subsection (4)(c) is to be read as if it included these Regulations in the list of enactments in that subsection;

• (ii) subsection (4)(g) is to be read as if it included these Regulations in the list of enactments in that subsection;

• (b) in Part 35, references to the IA 1986 and to the I(NI)O 1989 are to be read as if they included that legislation as applied and modified by these Regulations;

• (c) sections 1139 and 1140 are, where an application is made to the court for—

• (i) a special administration order, ...

• (ii) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

to be read as if they were subject to the provisions for service set out in special administration insolvency rules;

• (d) in Schedule 2, in Part 2, under heading A—

• (i) paragraph 13 is to be read as if it included these Regulations in the list of enactments in that paragraph, and

• (ii) paragraph 37 is to be read as if it included these Regulations in the list of enactments in that paragraph;

• (e) in Schedule 11A, in Part 2—

• (i) paragraph 30 is to be read as if it included these Regulations in the list of enactments in that paragraph, and

• (ii) paragraph 52 is to be read so as to include these Regulations in the list of enactments in that paragraph.

Land Registration Rules 2003

6

The following provisions are to be read as if the reference to administration were to special administration—

• (a) rule 166(1) of the Land Registration Rules (Northern Ireland) 1994, and

• (b) rule 184(1) of the Land Registration Rules 2003.

SCHEDULE 4 — Consequential amendments

PART 1 — Primary legislation

The Companies Act 1985

1

In the Companies Act 1985[^f00097], in Schedule 15D, after paragraph 9(g) insert—

(h) the Payment and Electronic Money Institution Insolvency Regulations 2021.

[^f00098].

The Finance Act 1986

2

• (1) The Finance Act 1986[^f00099] is amended as follows.

• (2) In section 80D, in subsection (9), omit the “or” at the end of paragraph (ha) and after that paragraph insert—

(hb) if a special administration order takes effect under the Payment and Electronic Money Institution Insolvency Regulations 2021, or

• (3) In section 89AB, in subsection (9), omit the “or” at the end of paragraph (ha) and after that paragraph insert—

(hb) if a special administration order takes effect under the Payment and Electronic Money Institution Insolvency Regulations 2021, or

The Third Parties (Rights against Insurers) Act 2010

3

In the Third Parties (Rights against Insurers) Act 2010[^f00100], in Schedule A1, in the List of Enactments, under the heading “Financial Services”, at the appropriate place insert—

Payment and Electronic Money Institution Insolvency Regulations 2021 (S.I. 2021/716)

PART 2 — Secondary legislation

The EMR 2011

4

• (1) The EMR 2011 are amended as follows.

• (2) In regulation 22, in paragraph (3)—

• (a) at the appropriate places insert —

• “electronic money institution special administration” has the same meaning as in the Payment and Electronic Money Institution Insolvency Regulations 2021 (see regulation 4(3));

• “investment bank special administration” has the same meaning as in the Investment Bank Special Administration Regulations 2011 (see regulation 3(1) of those Regulations).

• (b) in the definition of “insolvency event”, omit the “or” at the end of paragraph (k) and after paragraph (l) insert—

; (m) the entry of the institution into payment institution special administration; or (n) the entry of the institution into investment bank special administration.

• (3) In regulation 24—

• (a) in the heading, at the end insert “(except electronic money institution special administration)”;

• (b) in paragraph (1) after “insolvency event” insert “(except electronic money institution special administration)”.

The IBSAR 2011

5

• (1) The IBSAR 2011 are amended as follows.

• (2) In regulation 8—

• (a) after paragraph (1) insert—

(1A) An application for an order under regulation 8 of the Payment and Electronic Money Institution Insolvency Regulations 2021 in respect of an investment bank may not be made unless the conditions in paragraph (5) are satisfied.

• (b) in paragraph (8), in the definition of “preliminary steps taken in respect of an insolvency procedure”, after paragraph (a) insert—

(aa) an application for an order under regulation 8 of the Payment and Electronic Money Institution Insolvency Regulations 2021 has been made;

• (3) In regulation 22(1)—

• (a) for “or” substitute a comma;

• (b) after “administration order” insert “or an order under regulation 8 of the Payment and Electronic Money Institution Insolvency Regulations 2021”.

The PSR 2017

6

• (1) Regulation 23 of the PSR 2017 is amended as follows.

• (2) In paragraph (14) after “insolvency event” insert “(except payment institution special administration)”.

• (3) In paragraph (18)—

• (a) in the definition of “insolvency event” omit the “or” at the end of paragraph (i) and after paragraph (j) insert—

; (k) the entry of the institution into payment institution special administration; or; (l) the entry of the institution into investment bank special administration.

• (b) at the appropriate places insert—

• “investment bank special administration” has the same meaning as in the Investment Bank Special Administration Regulations 2011 (see regulation 3(1) of those Regulations);

• “payment institution special administration” has the same meaning as in the Payment and Electronic Money Institution Insolvency Regulations 2021 (see regulation 4(3));

Signed

Alan Mak — Maggie Throup — Two of the Lords Commissioners of Her Majesty’s Treasury — 17th June 2021

Explanatory note

(This note is not part of the Regulations)

EXPLANATORY NOTE

These Regulations establish a new insolvency procedure to be known as payment institution special administration or electronic money institution special administration (as the case may be) to operate as an alternative to the liquidation or administration of those institutions under the Insolvency Act 1986 (c. 45) (see regulations 7 to 47 and Schedules 1 to 4).

The main features of special administration are that—

• (a) an administrator is appointed, and the institution enters special administration, by court order (see regulations 7 to 10),

• (b) special administration objectives and procedures apply (see regulations 12 to 35),

• (c) specific provision is made about how those procedures apply to small institutions (see regulation 12(10)),

• (d) the administrator is to pursue the special administration objectives in accordance with the statement of proposals (see paragraph 49 of Schedule B1 of the Insolvency Act 1986 as applied and modified by regulation 37), and

• (e) in other respects the procedure is the same as for administration under Schedule B1 to the Insolvency Act 1986, subject to modifications and the inclusion of certain liquidation provisions of that Act (see regulation 37 and Schedules 1 and 2).

These Regulations also apply with modifications Part 24 of Financial Services and Markets Act 2000 (c. 8) (which makes provision about insolvency) to payment institutions and electronic money institutions except in respect of special administration (see regulation 48).

These Regulations also correct a defect relating to the United Kingdom’s withdrawal from the European Union and bank recovery and resolution in the Bank Recovery and Resolution (Amendment) (EU Exit) Regulations 2020 (S.I. 2020/1350) (see regulation 49).

A de minimis impact assessment of the effect these Regulations will have on business and the voluntary sector is available from HM Treasury, 1 Horse Guards Road, London SW1A 2HQ or on www.gov.uk and is published alongside these Regulations on www.legislation.gov.uk.

Footnotes

[^f00001]: 2009 c. 1.

[^f00002]: S.I. 2011/99. Regulation 24A and Schedule 2ZA were inserted by S.I. 2020/1275.

[^f00003]: S.I. 2017/752. Regulation 23A and Schedule 3A were inserted by S.I. 2020/1275.

[^f00004]: 2018 c. 16.

[^f00005]: 2000 c. 8.

[^f00006]: 2009 c. 1.

[^f00007]: 2006 c. 46.

[^f00008]: 1986 c. 46.

[^f00009]: 1986 c. 45.

[^f00010]: 2015 c. 26.

[^f00011]: S.I. 2011/99, amended by S.I. 2013/3115, 2015/575, 2017/252, 2017/1173, 2018/1021. There are other amending instruments but none is relevant.

[^f00012]: S.I. 2011/245, amended by S.I. 2013/472, 2017/443. There are other amending instruments but none is relevant.

[^f00013]: S.I. 2017/752, amended by S.I. 2017/1173, 2018/1021. There are other amending instruments but none is relevant.

[^f00014]: Section 182 was amended by the Digital Economy Act 2017 (c. 30).

[^f00015]: Section 183(a) was amended by the Digital Economy Act 2017 (c. 30).

[^f00016]: 1980 c. 43.

[^f00017]: Regulation 24A of and paragraph 1 of Schedule 2ZA to the EMR 2011 apply and modify section 93(4) of the BA 2009 in respect of electronic money institutions. Regulation 23A of and paragraph 1 of Schedule 3A to the PSR 2017 apply and modify section 93(4) of the BA 2009 in respect of payment institutions.

[^f00018]: Section 359(1) was amended by the Financial Services Act 2012 (c. 21).

[^f00019]: Section 232 was amended by the Financial Services Act 2012 (c. 21) and S.I. 2011/239 and 2017/443.

[^f00020]: 2018 c. 12.

[^f00021]: S.I. 2009/322, amended by S.I. 2009/1826, 2018/1394. There are other amending instruments by none is relevant.

[^f00022]: S.I. 2003/3226, to which there are amendments not relevant to these Regulations.

[^f00023]: Paragraph 1 was amended by S.I. 2003/2093.

[^f00024]: S.I. 2001/544, amended by S.I. 2002/682. There are other amending instruments but none is relevant.

[^f00025]: 1989 c. 40.

[^f00026]: S.I. 2001/3755, to which there are amendments not relevant to these Regulations.

[^f00027]: S.I. 2018/1394, amended by S.I. 2019/710 and S.I. 2020/1350.

[^f00028]: S.I. 2020/1350.

[^f00030]: S.I. 2005/524.

[^f00031]: S.I. 1986/1764.

[^f00032]: S.I. 2004/593.

[^f00033]: S.I. 1986/592.

[^f00034]: S.I. 1987/2023.

[^f00035]: S.I. 1996/1909.

[^f00036]: S.I. 1996/1910.

[^f00037]: S.I. 1994/2421, amended by S.I. 2005/1516, 2013/472, 2014/3486, 2017/540, 2017/1119, 2018/1244. There are other amending instruments but none is relevant.

[^f00038]: S.I. 2017/540.

[^f00039]: 1970 c. 9.

[^f00040]: 1973 c. 52.

[^f00041]: 1985 c. 6.

[^f00042]: 1986 c. 41.

[^f00043]: 1987 c. 18.

[^f00044]: 1989 c. 40.

[^f00045]: 1992 c. 12.

[^f00046]: 1993 c. 48.

[^f00047]: 1995 c. 26.

[^f00048]: 1995 c. 43.

[^f00049]: 1996 c. 18.

[^f00050]: 2000 c. 11.

[^f00051]: 2000 c. 17.

[^f00052]: 2001 c. 17.

[^f00053]: 2001 asp 13.

[^f00054]: 2002 c. 29.

[^f00055]: 2002 asp 17.

[^f00056]: 2003 c. 14.

[^f00057]: 2004 c. 35.

[^f00058]: 2006 c. 46.

[^f00059]: 2007 asp 3.

[^f00060]: 2008 c. 9.

[^f00061]: 2008 c. 31.

[^f00062]: 2009 c. 4.

[^f00063]: 2010 c. 4.

[^f00064]: 2010 c. 8.

[^f00065]: S.I. 1986/1960.

[^f00066]: S.I. 1987/2023.

[^f00067]: S.I. 1991/880.

[^f00068]: S.I. 1994/2507.

[^f00070]: S.I. 1996/1909.

[^f00071]: S.I. 1996/1469.

[^f00072]: S.I. 1998/1870.

[^f00073]: S.I. 1999/2975.

[^f00074]: S.I. 1999/2979.

[^f00075]: S.I. 2002/2822.

[^f00076]: S.I. 2003/3226.

[^f00077]: S.I. 2005/524.

[^f00078]: S.I. 2005/590.

[^f00079]: S.I. 2005/916.

[^f00080]: S.S.I. 2005/125.

[^f00081]: S.I. 2005/1986.

[^f00082]: S.S.I. 2006/485.

[^f00083]: S.I. 2007/2974.

[^f00084]: S.I. 2008/346.

[^f00085]: S.I. 2015/17.

[^f00086]: S.I. 2008/1748.

[^f00087]: S.I. 2008/1911.

[^f00089]: S.I. 2009/214.

[^f00090]: S.I. 2010/1056.

[^f00091]: S.I. 2020/233.

[^f00092]: S.I. 2016/1024.

[^f00093]: S.S.I. 2018/1082.

[^f00094]: S.S.I. 2018/347.

[^f00095]: 2004 c. 35.

[^f00097]: 1985 c. 6.

[^f00098]: S.I. 2021/716.

[^f00099]: 1986 c. 41. In section 80D(9), paragraph (ha) was inserted by S.I. 2011/245. In section 89AB(9), paragraph (ha) was inserted by S.I. 2011/245.

[^f00100]: 2010 c. 10. Schedule A1 was inserted by S.I. 2016/570.

Editorial notes

[^key-02c4d8122409778e8c47d6e73d61639e]: Reg. 37(1A)(1B) inserted (4.1.2024) by The Payment and Electronic Money Institution Insolvency (Amendment) Regulations 2023 (S.I. 2023/1399), regs. 1(2), 11(2)(a)

[^key-02d664a0763d0ca82fcb0331ce8d819b]: Reg. 12 in force at 8.7.2021, see reg. 2

[^key-04d6539e02c8a7fd948afd9ffe17dd8f]: Words in Sch. 3 para. 2 inserted (4.1.2024) by The Payment and Electronic Money Institution Insolvency (Amendment) Regulations 2023 (S.I. 2023/1399), regs. 1(2), 21(2)(d)

[^key-0516f43156fa52fcc466ce3c5f907c40]: Words in reg. 6 inserted (4.1.2024) by The Payment and Electronic Money Institution Insolvency (Amendment) Regulations 2023 (S.I. 2023/1399), regs. 1(2), 5(2)(b)

[^key-0806a72f7740b86a03f7c244b93faa7e]: Reg. 37A inserted (4.1.2024) by The Payment and Electronic Money Institution Insolvency (Amendment) Regulations 2023 (S.I. 2023/1399), regs. 1(2), 12

[^key-085373b2cbef2f691e62e7db1af60b84]: Words in Sch. 3 para. 4 heading inserted (4.1.2024) by The Payment and Electronic Money Institution Insolvency (Amendment) Regulations 2023 (S.I. 2023/1399), regs. 1(2), 21(5)

[^key-08c0567e980c3f50df9d3ce3dceb2f51]: Reg. 40 in force at 8.7.2021, see reg. 2

[^key-0d233f81db438260b88a5ba8c850b8d6]: Reg. 24 in force at 8.7.2021, see reg. 2

[^key-0d98e6d6a13e313c99c77a8cfff34424]: Words in reg. 44(2)(a) inserted (4.1.2024) by The Payment and Electronic Money Institution Insolvency (Amendment) Regulations 2023 (S.I. 2023/1399), regs. 1(2), 18(3)(a)

[^key-0df666c736da66e7be3743d488b8cbff]: Reg. 23 in force at 8.7.2021, see reg. 2

[^key-10c9a68d86d32877bc6e73838b4e50d1]: Reg. 28 in force at 8.7.2021, see reg. 2

[^key-114a4182efb3a6e7917589e60291bee1]: Words in reg. 46 heading inserted (4.1.2024) by The Payment and Electronic Money Institution Insolvency (Amendment) Regulations 2023 (S.I. 2023/1399), regs. 1(2), 19(1)(a)

[^key-11701a3441381bddd9b8a47d4861bacf]: Reg. 47 in force at 8.7.2021, see reg. 2

[^key-119471045a7f6d1c43486a5305bc4390]: Reg. 17 in force at 8.7.2021, see reg. 2

[^key-120e6bd73dba8fcbc3c1493fe8d27109]: Sch. 2 para. 8 in force at 8.7.2021, see reg. 2

[^key-15a39867cf8b94e9a3d71d010018f433]: Words in Sch. 3 para. 2 inserted (4.1.2024) by The Payment and Electronic Money Institution Insolvency (Amendment) Regulations 2023 (S.I. 2023/1399), regs. 1(2), 21(2)(c)

[^key-17b5cdc603919cae5d781fd1154729d8]: Reg. 8(1)(da)(db) inserted (4.1.2024) by The Payment and Electronic Money Institution Insolvency (Amendment) Regulations 2023 (S.I. 2023/1399), regs. 1(2), 6(b)

[^key-18c3d94b207c00506ba434025189870e]: Sch. 4 para. 4 in force at 8.7.2021, see reg. 2

[^key-1a6b28e6fd8cca588ef7d51cd0be1830]: Words in reg. 43(2) inserted (4.1.2024) by The Payment and Electronic Money Institution Insolvency (Amendment) Regulations 2023 (S.I. 2023/1399), regs. 1(2), 17

[^key-1ce5b81a60c4fb80cec0157441d8c6dd]: Words in Sch. 1 para. 1 inserted (4.1.2024) by The Payment and Electronic Money Institution Insolvency (Amendment) Regulations 2023 (S.I. 2023/1399), regs. 1(2), 20(2)(b)

[^key-2023a2724dc5400c87611c308d22e2ad]: Reg. 9 in force at 8.7.2021, see reg. 2

[^key-2388c1a41baca025992d0d379ea296dd]: Words in reg. 37 heading inserted (4.1.2024) by The Payment and Electronic Money Institution Insolvency (Amendment) Regulations 2023 (S.I. 2023/1399), regs. 1(2), 11(1)

[^key-24e1a35e1f9f8ead14e4ead3f3c1bace]: Reg. 20 in force at 8.7.2021, see reg. 2

[^key-251021f5721198f901e3135a8a14f113]: Words in Sch. 3 para. 5(b) substituted (4.1.2024) by The Payment and Electronic Money Institution Insolvency (Amendment) Regulations 2023 (S.I. 2023/1399), regs. 1(2), 21(7)(a)(ii)

[^key-2555726424877a9fd6171bddc660a56f]: Words in Sch. 3 para. 2 inserted (4.1.2024) by The Payment and Electronic Money Institution Insolvency (Amendment) Regulations 2023 (S.I. 2023/1399), regs. 1(2), 21(3)(i)

[^key-26048a799261031c379e3ec0cf0d9295]: Words in Sch. 3 para. 2 inserted (4.1.2024) by The Payment and Electronic Money Institution Insolvency (Amendment) Regulations 2023 (S.I. 2023/1399), regs. 1(2), 21(3)(a)

[^key-27847415f448d5cc5327fb305bf867cd]: Reg. 6 in force at 8.7.2021, see reg. 2

[^key-2829f383468565f6746e1551096683d3]: Reg. 48 in force at 8.7.2021, see reg. 2

[^key-289fdb668ed5cd123243bf4b066574cd]: Words in Sch. 3 para. 2 inserted (4.1.2024) by The Payment and Electronic Money Institution Insolvency (Amendment) Regulations 2023 (S.I. 2023/1399), regs. 1(2), 21(2)(b)

[^key-2e1b848ba2afef5afab187de047e4599]: Words in Sch. 3 para. 2 omitted (4.1.2024) by virtue of The Payment and Electronic Money Institution Insolvency (Amendment) Regulations 2023 (S.I. 2023/1399), regs. 1(2), 21(3)(j)

[^key-2fe7c27f317ab92809042f079f0d8480]: Word in reg. 44(1) substituted (4.1.2024) by The Payment and Electronic Money Institution Insolvency (Amendment) Regulations 2023 (S.I. 2023/1399), regs. 1(2), 18(2)

[^key-30e91b4ea450ee99eb4fcb46b9b8d2f9]: Reg. 39(9)(10) substituted for reg. 39(9) (4.1.2024) by The Payment and Electronic Money Institution Insolvency (Amendment) Regulations 2023 (S.I. 2023/1399), regs. 1(2), 14(d)

[^key-33bf52f0eda763924b258008596225de]: Sch. 2A inserted (4.1.2024) by The Payment and Electronic Money Institution Insolvency (Amendment) Regulations 2023 (S.I. 2023/1399), reg. 1(2), Sch. 2

[^key-36b7cc939f68bc8eebd403523c844bc0]: Words in Sch. 2 para. 6 Table 2 substituted (4.1.2024) by The Payment and Electronic Money Institution Insolvency (Amendment) Regulations 2023 (S.I. 2023/1399), regs. 1(2), 20(4)

[^key-37f6504a6e0588b8c60e46d999045158]: Sch. 1 para. 3 in force at 8.7.2021, see reg. 2

[^key-38e220c12d9afe318e4d5ab59705572f]: Reg. 45 in force at 8.7.2021, see reg. 2

[^key-397d68ede9a5276621dcf0d8a442befc]: Words in reg. 6 inserted (4.1.2024) by The Payment and Electronic Money Institution Insolvency (Amendment) Regulations 2023 (S.I. 2023/1399), regs. 1(2), 5(3)

[^key-3cc9f5d572ded00c45c7d10c5dc25bb0]: Sch. 3 para. 3 in force at 8.7.2021, see reg. 2

[^key-3d22576f47d5d63614edd884e8f3dfde]: Reg. 16 in force at 8.7.2021, see reg. 2

[^key-3e7acf0399d05fde2d9986429e90c582]: Reg. 2 in force at 8.7.2021, see reg. 2

[^key-3f42ae39066d6f2bc3c85800f3a9230a]: Reg. 19 in force at 8.7.2021, see reg. 2

[^key-411524097389ae9959f3738717a2c2a3]: Words in Sch. 3 para. 2 inserted (4.1.2024) by The Payment and Electronic Money Institution Insolvency (Amendment) Regulations 2023 (S.I. 2023/1399), regs. 1(2), 21(3)(k)

[^key-42231a4e91507f51950705e4c132a9f3]: Reg. 3(2) omitted (4.1.2024) by virtue of The Payment and Electronic Money Institution Insolvency (Amendment) Regulations 2023 (S.I. 2023/1399), regs. 1(2), 3(b)

[^key-42d222a389ae3776c9c971567753be1b]: Words in reg. 5 heading omitted (4.1.2024) by virtue of The Payment and Electronic Money Institution Insolvency (Amendment) Regulations 2023 (S.I. 2023/1399), regs. 1(2), 4(a)

[^key-431f90711ec90dfa6593e3a5a4a033f9]: Words in Sch. 3 para. 2 inserted (4.1.2024) by The Payment and Electronic Money Institution Insolvency (Amendment) Regulations 2023 (S.I. 2023/1399), regs. 1(2), 21(2)(g)

[^key-4363a9140177a748c970598d65303b49]: Reg. 37 in force at 8.7.2021, see reg. 2

[^key-441705ed78520b9e68e0865c052e2204]: Reg. 10 in force at 8.7.2021, see reg. 2

[^key-46ba53227e330d58caee99f88994c728]: Words in reg. 10(2)(b) omitted (4.1.2024) by virtue of The Payment and Electronic Money Institution Insolvency (Amendment) Regulations 2023 (S.I. 2023/1399), regs. 1(2), 8(b)

[^key-47e131bf807719497f9cc07112146cbf]: Sch. 3 para. 1 in force at 8.7.2021, see reg. 2

[^key-48a56d614a5422ef6b6704c49c85a395]: Words in reg. 37 table inserted (4.1.2024) by The Payment and Electronic Money Institution Insolvency (Amendment) Regulations 2023 (S.I. 2023/1399), regs. 1(2), 11(2)(b)(ii)

[^key-4c1acb458ef3f40ad77b4ca1e7b45d76]: Words in Sch. 3 para. 2 inserted (4.1.2024) by The Payment and Electronic Money Institution Insolvency (Amendment) Regulations 2023 (S.I. 2023/1399), regs. 1(2), 21(2)(e)

[^key-4cc16eb6004225f85ef5656f2026233c]: Sch. 1 para. 4 in force at 8.7.2021, see reg. 2

[^key-4d451ad33ca0df0960bc48b20fb49589]: Reg. 7 in force at 8.7.2021, see reg. 2

[^key-4e75e18dd6ddbfb0d7e961b7ae1a706c]: Reg. 46A inserted (4.1.2024) by The Payment and Electronic Money Institution Insolvency (Amendment) Regulations 2023 (S.I. 2023/1399), regs. 1(2), 19(2)

[^key-504edfc925eae6441ee1d82d4f0df7de]: Words in reg. 44(2)(b) inserted (4.1.2024) by The Payment and Electronic Money Institution Insolvency (Amendment) Regulations 2023 (S.I. 2023/1399), regs. 1(2), 18(3)(b)

[^key-5088eb4406dc021d75a9714f67431f4e]: Words in reg. 6 inserted (4.1.2024) by The Payment and Electronic Money Institution Insolvency (Amendment) Regulations 2023 (S.I. 2023/1399), regs. 1(2), 5(2)(a)

[^key-54c9b8fcd705a9eb21f9dabf9648df9f]: Words in reg. 41(2) inserted (4.1.2024) by The Payment and Electronic Money Institution Insolvency (Amendment) Regulations 2023 (S.I. 2023/1399), regs. 1(2), 15

[^key-55a0b0999dc7674a0206f85a62d2a7f2]: Reg. 13 in force at 8.7.2021, see reg. 2

[^key-57ef0c1ff84bbe0593630135680adc58]: Words in Sch. 3 para. 2 inserted (4.1.2024) by The Payment and Electronic Money Institution Insolvency (Amendment) Regulations 2023 (S.I. 2023/1399), regs. 1(2), 21(3)(l)

[^key-58228dd312d6de845b4e9efd0d8feafa]: Sch. 4 para. 6 in force at 8.7.2021, see reg. 2

[^key-59f0beb570e0cdce461ce5d7a310f71e]: Reg. 46 in force at 8.7.2021, see reg. 2

[^key-5a4f10a0f46e220d879846cb6a520fde]: Reg. 49 in force at 8.7.2021, see reg. 2

[^key-5d88e4517bb47900ff31bccc21a01594]: Reg. 42 in force at 8.7.2021, see reg. 2

[^key-5f33ee29b79a942679dde032cab2e149]: Sch. 3 para. 5 in force at 8.7.2021, see reg. 2

[^key-6082ab109cf6a6f36b22bf8bd4dd9d18]: Words in Sch. 3 para. 2 inserted (4.1.2024) by The Payment and Electronic Money Institution Insolvency (Amendment) Regulations 2023 (S.I. 2023/1399), regs. 1(2), 21(2)(a)

[^key-6541a973e2a0b1a2ff90fc2656f59f5a]: Words in reg. 3(1) substituted (4.1.2024) by The Payment and Electronic Money Institution Insolvency (Amendment) Regulations 2023 (S.I. 2023/1399), regs. 1(2), 3(a)

[^key-675f9a9a2e72bd05a7a469e81e8d2091]: Words in Sch. 1 para. 3 Table inserted (4.1.2024) by The Payment and Electronic Money Institution Insolvency (Amendment) Regulations 2023 (S.I. 2023/1399), regs. 1(2), 20(2)(d)(i)

[^key-684c6893ccb17d35ffd7919425c5dc4f]: Sch. 2 para. 9 in force at 8.7.2021, see reg. 2

[^key-69b00888abbba768f302eeb60d059cfa]: Words in Sch. 3 para. 2 inserted (4.1.2024) by The Payment and Electronic Money Institution Insolvency (Amendment) Regulations 2023 (S.I. 2023/1399), regs. 1(2), 21(3)(h)

[^key-6b8170186b1e6a0d4cf494cb39a75373]: Words in reg. 9(5) inserted (4.1.2024) by The Payment and Electronic Money Institution Insolvency (Amendment) Regulations 2023 (S.I. 2023/1399), regs. 1(2), 7(1)

[^key-6bc423ce6d4af40c6aa6bcb2e2a654bb]: Words in Sch. 3 para. 2 inserted (4.1.2024) by The Payment and Electronic Money Institution Insolvency (Amendment) Regulations 2023 (S.I. 2023/1399), regs. 1(2), 21(3)(d)

[^key-6dca14888b7fdc82d2a7735896f0d2b0]: Words in Sch. 3 para. 2 inserted (4.1.2024) by The Payment and Electronic Money Institution Insolvency (Amendment) Regulations 2023 (S.I. 2023/1399), regs. 1(2), 21(3)(b)

[^key-6eadb5aa069cfbdaa158792798dcfaf6]: Word in reg. 46(3) substituted (4.1.2024) by The Payment and Electronic Money Institution Insolvency (Amendment) Regulations 2023 (S.I. 2023/1399), regs. 1(2), 19(1)(c)

[^key-6fa2740f73e9205f1c38b9875283d57a]: Word in Sch. 1 heading inserted (4.1.2024) by The Payment and Electronic Money Institution Insolvency (Amendment) Regulations 2023 (S.I. 2023/1399), regs. 1(2), 20(2)(a)

[^key-723603f5b0a5d1adf4a627bd3ef8cae9]: Words in Sch. 1 para. 3 Table inserted (4.1.2024) by The Payment and Electronic Money Institution Insolvency (Amendment) Regulations 2023 (S.I. 2023/1399), regs. 1(2), 20(2)(d)(ii)

[^key-74cd7980bc7402fb88f621afa1bd050c]: Words in Sch. 3 para. 3(m) inserted (4.1.2024) by The Payment and Electronic Money Institution Insolvency (Amendment) Regulations 2023 (S.I. 2023/1399), regs. 1(2), 21(4)(f)

[^key-751b1ae520fe10a7006d05f90228700e]: Reg. 31 in force at 8.7.2021, see reg. 2

[^key-7d60432d9e9e8696a62933072c3d4e48]: Reg. 8 in force at 8.7.2021, see reg. 2

[^key-7e77a1688d5ded78b60154dcc94a146f]: Sch. 4 para. 5 in force at 8.7.2021, see reg. 2

[^key-82756e2cc58d4c5d95d4294cc0895e32]: Sch. 1A inserted (4.1.2024) by The Payment and Electronic Money Institution Insolvency (Amendment) Regulations 2023 (S.I. 2023/1399), reg. 1(2), Sch. 1

[^key-8278e33eacec805ddd30b1ae86916335]: Reg. 29 in force at 8.7.2021, see reg. 2

[^key-83eb5fbc59c2e68ddedef78b797e07d5]: Words in Sch. 3 para. 2 inserted (4.1.2024) by The Payment and Electronic Money Institution Insolvency (Amendment) Regulations 2023 (S.I. 2023/1399), regs. 1(2), 21(3)(e)

[^key-85f4cfd6811ef643ecc81ce6c4870770]: Sch. 2 para. 2 in force at 8.7.2021, see reg. 2

[^key-8621f157f6e2719c0cf3d0798c7e2c2c]: Reg. 39(11) inserted (4.1.2024) by The Payment and Electronic Money Institution Insolvency (Amendment) Regulations 2023 (S.I. 2023/1399), regs. 1(2), 14(e)

[^key-869698f5fc14905d1d962909e456730f]: Sch. 3 para. 3(k)(ai) inserted (4.1.2024) by The Payment and Electronic Money Institution Insolvency (Amendment) Regulations 2023 (S.I. 2023/1399), regs. 1(2), 21(4)(d)

[^key-893522ea9f357e78a06b895cf6e99dd0]: Sch. 3 para. 4 renumbered as Sch. 3 para. 4(1) (4.1.2024) by The Payment and Electronic Money Institution Insolvency (Amendment) Regulations 2023 (S.I. 2023/1399), regs. 1(2), 21(6)(a)

[^key-896b43069d45a62a981a7f01bff4b882]: Sch. 3 para. 6 and cross-heading substituted (4.1.2024) by The Payment and Electronic Money Institution Insolvency (Amendment) Regulations 2023 (S.I. 2023/1399), regs. 1(2), 21(8)

[^key-89765f08a53367ba272d519aecd4c10c]: Word in reg. 37 table substituted (4.1.2024) by The Payment and Electronic Money Institution Insolvency (Amendment) Regulations 2023 (S.I. 2023/1399), regs. 1(2), 11(2)(b)(iii)

[^key-89c49a1eb6cc2c629baf06a12146c5ca]: Reg. 26 in force at 8.7.2021, see reg. 2

[^key-8a3cc45596d68239d803a6cdd07cdc83]: Reg. 38 in force at 8.7.2021, see reg. 2

[^key-8b8de4bccfb1d52d49f10808e391da39]: Words in reg. 33(4) inserted (4.1.2024) by The Payment and Electronic Money Institution Insolvency (Amendment) Regulations 2023 (S.I. 2023/1399), regs. 1(2), 10

[^key-8b9043f140c8e14398f4956428daea78]: Sch. 2 para. 6 in force at 8.7.2021, see reg. 2

[^key-8edb04495c3a4b1c1d7aaee4b760e9cc]: Sch. 4 para. 2 in force at 8.7.2021, see reg. 2

[^key-91d7db50cd945242b8b2ac020e23784d]: Sch. 1 para. 5 in force at 8.7.2021, see reg. 2

[^key-91dada5fe0dc1ee4a2fa4ba7611c2dba]: Words in Sch. 3 para. 3(j) inserted (4.1.2024) by The Payment and Electronic Money Institution Insolvency (Amendment) Regulations 2023 (S.I. 2023/1399), regs. 1(2), 21(4)(c)

[^key-9518b323ffd4a7dedfc9e654c6cea372]: Reg. 11 in force at 8.7.2021, see reg. 2

[^key-968f49a28bf67d19742ae700c0c651e4]: Word in Sch. 3 para. 5(c)(i) omitted (4.1.2024) by virtue of The Payment and Electronic Money Institution Insolvency (Amendment) Regulations 2023 (S.I. 2023/1399), regs. 1(2), 21(7)(b)(i)

[^key-97eaaf5f456433a6a7a14860b9438e4b]: Reg. 25 in force at 8.7.2021, see reg. 2

[^key-995b9d63ae1511ab24fb11ccf53d87b9]: Sch. 2 para. 4 in force at 8.7.2021, see reg. 2

[^key-9a6e7283819a01a081c3d1ddf46aad75]: Words in reg. 39(2)(a) inserted (4.1.2024) by The Payment and Electronic Money Institution Insolvency (Amendment) Regulations 2023 (S.I. 2023/1399), regs. 1(2), 14(a)

[^key-9a88ac6a244e105f16713767e1446b41]: Reg. 32 in force at 8.7.2021, see reg. 2

[^key-9b46f6a38a6701e6ec9ed6c3cbc9bb7e]: Reg. 36 in force at 8.7.2021, see reg. 2

[^key-9ffcc25a499ae673e8661eb9ef084f3b]: Sch. 1 para. 2 substituted (4.1.2024) by The Payment and Electronic Money Institution Insolvency (Amendment) Regulations 2023 (S.I. 2023/1399), regs. 1(2), 20(2)(c)

[^key-a3dd64dd3108c55661603a6cc2e0b335]: Reg. 4 in force at 8.7.2021, see reg. 2

[^key-a52fb9d09e8a853e1b5e77ac88798617]: Reg. 43 in force at 8.7.2021, see reg. 2

[^key-a68dd8d9f8941fd8f9785666d084cd6b]: Reg. 41 in force at 8.7.2021, see reg. 2

[^key-a7337d777d3068b5e65d4ef60a0c39c7]: Words in reg. 11(11) inserted (4.1.2024) by The Payment and Electronic Money Institution Insolvency (Amendment) Regulations 2023 (S.I. 2023/1399), regs. 1(2), 9

[^key-a74381677fa7880e5b7e69dba41e846e]: Words in Sch. 3 para. 2 inserted (4.1.2024) by The Payment and Electronic Money Institution Insolvency (Amendment) Regulations 2023 (S.I. 2023/1399), regs. 1(2), 21(2)(f)

[^key-a9814385f9068b16ede55d5adc745511]: Words in reg. 39(8) substituted (4.1.2024) by The Payment and Electronic Money Institution Insolvency (Amendment) Regulations 2023 (S.I. 2023/1399), regs. 1(2), 14(c)

[^key-aa46d8500201a7bc40794e20378cf428]: Words in reg. 44(4) substituted (4.1.2024) by The Payment and Electronic Money Institution Insolvency (Amendment) Regulations 2023 (S.I. 2023/1399), regs. 1(2), 18(5)

[^key-aa4921fb8e71f4ecd232aafdbd9aebc1]: Sch. 2 para. 7 in force at 8.7.2021, see reg. 2

[^key-aa82fd23354dbca5942fd0ad99d10c1c]: Reg. 33 in force at 8.7.2021, see reg. 2

[^key-ab035d32d2b00ed760cf9b5a0400a5d8]: Words in reg. 5 omitted (4.1.2024) by virtue of The Payment and Electronic Money Institution Insolvency (Amendment) Regulations 2023 (S.I. 2023/1399), regs. 1(2), 4(b)

[^key-abdff1c5a0d0ebb6454a0c794c64f7e0]: Words in reg. 39(4) substituted (4.1.2024) by The Payment and Electronic Money Institution Insolvency (Amendment) Regulations 2023 (S.I. 2023/1399), regs. 1(2), 14(b)

[^key-ac0adafcf0a3eb8cfca240832d3d9f26]: Reg. 27 in force at 8.7.2021, see reg. 2

[^key-ad5e75208d5613a2565fde267db530ab]: Words in reg. 6 substituted (4.1.2024) by The Payment and Electronic Money Institution Insolvency (Amendment) Regulations 2023 (S.I. 2023/1399), regs. 1(2), 5(3)

[^key-b2143fc006990a3742e47a6b4a22ac3f]: Reg. 21 in force at 8.7.2021, see reg. 2

[^key-b4eac3d3103b257fe503cf373bcc5e01]: Words in Sch. 3 para. 2 inserted (4.1.2024) by The Payment and Electronic Money Institution Insolvency (Amendment) Regulations 2023 (S.I. 2023/1399), regs. 1(2), 21(3)(f)

[^key-b513c00a8e69d9e413552266fc888679]: Sch. 2 para. 5 in force at 8.7.2021, see reg. 2

[^key-b65eef4a7bf5b937e45ccd130e17eb23]: Sch. 3 para. 2 in force at 8.7.2021, see reg. 2

[^key-b74f677eaea263da0e80aad01d72c5f2]: Sch. 4 para. 1 in force at 8.7.2021, see reg. 2

[^key-b8387e16947ab9c050133b913b1aca59]: Words in reg. 37 table substituted (4.1.2024) by The Payment and Electronic Money Institution Insolvency (Amendment) Regulations 2023 (S.I. 2023/1399), regs. 1(2), 11(2)(b)(i)

[^key-bd6a47cce0ce11fc4fafe55acf9f66c0]: Words in Sch. 3 para. 2 omitted (4.1.2024) by virtue of The Payment and Electronic Money Institution Insolvency (Amendment) Regulations 2023 (S.I. 2023/1399), regs. 1(2), 21(3)(c)

[^key-bd9a6d2bb23b3b15b54447d13746dfbb]: Reg. 1 in force at 8.7.2021, see reg. 2

[^key-c105686a8a3843ab673a1094d2c7781f]: Words in reg. 10(2) omitted (4.1.2024) by virtue of The Payment and Electronic Money Institution Insolvency (Amendment) Regulations 2023 (S.I. 2023/1399), regs. 1(2), 8(a)

[^key-c1a955ca294a7f4582b40fe700de1b10]: Words in Sch. 3 para. 3(i) inserted (4.1.2024) by The Payment and Electronic Money Institution Insolvency (Amendment) Regulations 2023 (S.I. 2023/1399), regs. 1(2), 21(4)(b)

[^key-c305e35e0831fe85fcf62be03460c865]: Words in Sch. 3 para. 3(d) inserted (4.1.2024) by The Payment and Electronic Money Institution Insolvency (Amendment) Regulations 2023 (S.I. 2023/1399), regs. 1(2), 21(4)(a)

[^key-c53750cc060ce2507c737ab5a236d7be]: Reg. 14 in force at 8.7.2021, see reg. 2

[^key-c8565d1ce6f2100b394be52714e89aaa]: Sch. 3 para. 4 in force at 8.7.2021, see reg. 2

[^key-ca01aa0eab0440e66612e7d3206a7291]: Reg. 46(1)(1A) substituted for reg. 46(1) (4.1.2024) by The Payment and Electronic Money Institution Insolvency (Amendment) Regulations 2023 (S.I. 2023/1399), regs. 1(2), 19(1)(b)

[^key-cccfc280f01184c546993443e31d64b5]: Words in reg. 47(1) inserted (4.1.2024) by The Payment and Electronic Money Institution Insolvency (Amendment) Regulations 2023 (S.I. 2023/1399), regs. 1(2), 20(1)(a)

[^key-d1c524ed05d461a165fbaa90bd749c80]: Reg. 44(3) substituted (4.1.2024) by The Payment and Electronic Money Institution Insolvency (Amendment) Regulations 2023 (S.I. 2023/1399), regs. 1(2), 18(4)

[^key-d3321cca1a480d22e9d30f3160e4cf00]: Reg. 39 in force at 8.7.2021, see reg. 2

[^key-d458a7adb7264594f507b9fb77d23e9c]: Reg. 44 in force at 8.7.2021, see reg. 2

[^key-d5ccf603e30e76d5b13e175895d48be4]: Sch. 2 para. 3 in force at 8.7.2021, see reg. 2

[^key-d5ee1c5501d508146b2a80332af70c9c]: Reg. 22 in force at 8.7.2021, see reg. 2

[^key-d6f5ada39739bf8b8eee81ab397065ed]: Sch. 1 para. 1 in force at 8.7.2021, see reg. 2

[^key-e4beadd99efe6df8a86d511c21708d6e]: Words in Sch. 3 para. 2 inserted (4.1.2024) by The Payment and Electronic Money Institution Insolvency (Amendment) Regulations 2023 (S.I. 2023/1399), regs. 1(2), 21(3)(g)

[^key-e5e59d1384f7bdb66b9ddeb275e03d59]: Words in reg. 42(1)(a) inserted (4.1.2024) by The Payment and Electronic Money Institution Insolvency (Amendment) Regulations 2023 (S.I. 2023/1399), regs. 1(2), 16

[^key-e73db482711bdf2f84464bcc4af08669]: Words in Sch. 3 para. 5(b) inserted (4.1.2024) by The Payment and Electronic Money Institution Insolvency (Amendment) Regulations 2023 (S.I. 2023/1399), regs. 1(2), 21(7)(a)(i)

[^key-ea1b48ab779272b58356dfe568f9391a]: Words in Sch. 3 para. 3(l) inserted (4.1.2024) by The Payment and Electronic Money Institution Insolvency (Amendment) Regulations 2023 (S.I. 2023/1399), regs. 1(2), 21(4)(e)

[^key-eb09c228cbf59abb1b8da0dddae6a12c]: Reg. 47(1A) inserted (4.1.2024) by The Payment and Electronic Money Institution Insolvency (Amendment) Regulations 2023 (S.I. 2023/1399), regs. 1(2), 20(1)(b)

[^key-ec2918b913180de5fe55202c3c2eef0b]: Sch. 4 para. 3 in force at 8.7.2021, see reg. 2

[^key-ed303bc2da7e23e7c04d745048f76bc1]: Words in reg. 8(1)(d) inserted (4.1.2024) by The Payment and Electronic Money Institution Insolvency (Amendment) Regulations 2023 (S.I. 2023/1399), regs. 1(2), 6(a)

[^key-ed5a6517bda6382ffc11a570e07141d6]: Sch. 3 para. 4(2) inserted (4.1.2024) by The Payment and Electronic Money Institution Insolvency (Amendment) Regulations 2023 (S.I. 2023/1399), regs. 1(2), 21(6)(b)

[^key-edc9f3d982bc12587ff728906a70116c]: Reg. 3 in force at 8.7.2021, see reg. 2

[^key-ef27c52efadd8f43bce41503e48c708d]: Reg. 30 in force at 8.7.2021, see reg. 2

[^key-f2b9833627d6149aedccfe1fef0c8c6a]: Reg. 15 in force at 8.7.2021, see reg. 2

[^key-f2ffd4590bd9bf4c2ab5aa4c7d0a462a]: Reg. 5 in force at 8.7.2021, see reg. 2

[^key-f440d94db9d7a543945b31b5065fede3]: Reg. 35 in force at 8.7.2021, see reg. 2

[^key-f48e1bc12e1181d0a009a49380468fa9]: Sch. 3 para. 5(c)(ii) omitted (4.1.2024) by virtue of The Payment and Electronic Money Institution Insolvency (Amendment) Regulations 2023 (S.I. 2023/1399), regs. 1(2), 21(7)(b)(ii)

[^key-f62b3004f5f348bd132b749ca3bde0d6]: Sch. 2 para. 1 in force at 8.7.2021, see reg. 2

[^key-f956ec06f3b4dcb93464d5b18c92229e]: Reg. 18 in force at 8.7.2021, see reg. 2

[^key-fa2d21eadf8ba6ca66443e4f1d91613f]: Reg. 38(6) substituted (4.1.2024) by The Payment and Electronic Money Institution Insolvency (Amendment) Regulations 2023 (S.I. 2023/1399), regs. 1(2), 13

[^key-fc5b90e060ce04c786fd253212c9e372]: Reg. 47(2A) inserted (4.1.2024) by The Payment and Electronic Money Institution Insolvency (Amendment) Regulations 2023 (S.I. 2023/1399), regs. 1(2), 20(1)(c)

[^key-ff34d28eec138c0bb350e4ee5d36a851]: Reg. 44(6A)(6B) inserted (4.1.2024) by The Payment and Electronic Money Institution Insolvency (Amendment) Regulations 2023 (S.I. 2023/1399), regs. 1(2), 18(6)

[^key-ff5ed02feaa55bc3ac437be529f940fc]: Words in reg. 44(8) inserted (4.1.2024) by The Payment and Electronic Money Institution Insolvency (Amendment) Regulations 2023 (S.I. 2023/1399), regs. 1(2), 18(7)

[^key-fffa082a03acf11178a5b390f315bfba]: Reg. 34 in force at 8.7.2021, see reg. 2

[^key-e7358c813744c0bec9bb253d29d89685]: Word in reg. 6 substituted (27.2.2025) by The Retained EU Law (Revocation and Reform) Act 2023 (Consequential Amendments) Regulations 2025 (S.I. 2025/82), reg. 1(2), Sch. 9 para. 35

[^key-c2f9e169c045a899799fa0182958f19f]: Words in Sch. 3 para. 2 inserted (6.4.2025) by The Neonatal Care Leave and Pay (Consequential Amendments to Subordinate Legislation) Regulations 2025 (S.I. 2025/201), regs. 1(2), 28

Application: Scottish ... partnerships

Application of the IA 1986 in England, Wales and Scotland

Application of the I(NI)O 1989 and related insolvency legislation in Northern Ireland

37A

• (1) The provisions of the IA 1986 and the I(NI)O 1989 mentioned in the first column of the Table apply to special administration as they apply to any other insolvency proceedings, with any modifications shown in the third column.

• (2) References in the first column of the Table are to provisions in the I(NI)O 1989 unless otherwise stated.

• (3) Articles 88 to 94 of the Judgments Enforcement (Northern Ireland) Order 1981 apply to special administration as they apply to any other insolvency proceedings as if in Article 88(2)(b)—

• (a) in paragraph (i), the words “or of the calling” to “to be proposed” were omitted;

• (b) in paragraph (ii), for the words “or of the calling of such a meeting” to the end, there were substituted “but a winding-up order is not at any time made as a result of that petition”.

• (4) This regulation applies to the special administration of, or in relation to, an institution which is incorporated in, or formed under the law of Northern Ireland.

• (5) For the purposes of paragraph (4), an institution whose registered office, or in the case of an institution with no registered office, whose principal place of business, is situated in Northern Ireland is to be treated as incorporated in, or formed under, the law of Northern Ireland.

• (6) This regulation is subject to—

• (a) Schedule 1A (which makes provision about how special administration applies to limited liability partnerships), and

• (b) Schedule 2A (which makes provision about how special administration applies to partnerships).