S.I. 2004/1045.

http://www.legislation.gov.uk/uksi/2011/245/schedule/6/paragraph/7The Investment Bank Special Administration Regulations 2011texttext/xmlenStatute Law DatabaseFINANCIAL SERVICES AND MARKETS2024-05-16Expert Participation2017-04-06These Regulations provide for a new special administration regime for investment banks (as defined in section 232 of the Banking Act 2009 (c. 1)).SCHEDULE 6Modifications and consequential amendmentsPART 2Specific modifications7Credit Institutions (Reorganisation and Winding Up) Regulations 20041

The following provision of the Credit Institutions (Reorganisation and Winding Up) Regulations 2004 applies with the modification set out in this paragraph.

2

Regulation 11(2) is to be read as if it provided the following—

2

The prescribed circumstances are that, after the appointment of the administrator, the administrator, in drawing up the statement of proposals in accordance with paragraph 49 of Schedule B1 (as applied by regulation 15(6) of the Investment Bank Special Administration Regulations 2011) or paragraph 7 of Schedule 2 to those Regulations has concluded that it is not possible to rescue the investment bank as a going concern.

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<hcontainer name="schedules" eId="d4e359" period="#period4">
<hcontainer name="schedule" eId="schedule-6" period="#period3">
<num>SCHEDULE 6</num>
<heading>Modifications and consequential amendments</heading>
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<num>
<strong>PART 2</strong>
</num>
<heading>Specific modifications</heading>
<paragraph eId="schedule-6-paragraph-7" period="#period1">
<num>7</num>
<heading>Credit Institutions (Reorganisation and Winding Up) Regulations 2004</heading>
<subparagraph eId="schedule-6-paragraph-7-1">
<num>1</num>
<content>
<p>
The following provision of the Credit Institutions (Reorganisation and Winding Up) Regulations 2004
<noteRef href="#c20699051" marker="M1" class="commentary M"/>
applies with the modification set out in this paragraph.
</p>
</content>
</subparagraph>
<subparagraph eId="schedule-6-paragraph-7-2">
<num>2</num>
<content>
<p>Regulation 11(2) is to be read as if it provided the following—</p>
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<mod>
<quotedStructure class="unknown unknown unknown default" startQuote="" endQuote="">
<paragraph eId="d4e395">
<num>2</num>
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<p>The prescribed circumstances are that, after the appointment of the administrator, the administrator, in drawing up the statement of proposals in accordance with paragraph 49 of Schedule B1 (as applied by regulation 15(6) of the Investment Bank Special Administration Regulations 2011) or paragraph 7 of Schedule 2 to those Regulations has concluded that it is not possible to rescue the investment bank as a going concern.</p>
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<inline name="AppendText">.</inline>
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