Financial Services (Banking Reform) Act 2013

114FMI administration ordersU.K.

This section has no associated Explanatory Notes

(1)In this Part “FMI administration order” means an order which—

(a)is made by the court in relation to an infrastructure company, and

(b)directs that, while the order is in force, the affairs, business and property of the company are to be managed by a person appointed by the court.

(2)A person appointed as mentioned in subsection (1)(b) is referred to in this Part as an FMI administrator.

(3)The FMI administrator of a company must manage its affairs, business and property, and exercise and perform the FMI administrator's functions, so as to achieve the objective in section 115.

Commencement Information

I1S. 114 in force at 13.7.2018 for E.W. by S.I. 2018/848, art. 2(c)