2.—(1) A company is eligible for a moratorium if it meets the requirements of paragraph 3, unless—N.I.
(a)it is excluded from being eligible by virtue of[F3paragraphs 4 to 7], or
(b)it falls within sub-paragraph (2).
(2) A company falls within this sub-paragraph if—
(a)it effects or carries out contracts of insurance, but is not exempt from the general prohibition, within the meaning of section 19 of the Financial Services and Markets Act 2000, in relation to that activity,
(b)it has permission under Part IV of that Act to accept deposits,
(c)it has a liability in respect of a deposit which it accepted in accordance with the Banking Act 1979 or the Banking Act 1987,
(d)it is a party to a market contract or any of its property is subject to a market charge or a system-charge,
(e)it is a participant (within the meaning of the settlement finality regulations) or any of its property is subject to a collateral security charge (within the meaning of those regulations).
(3) Paragraphs (a), (b) and (c) of sub-paragraph (2) must be read with—
(a)section 22 of the Financial Services and Markets Act 2000;
(b)any relevant order under that section; and
(c)Schedule 2 to that Act.]
F3Words in Sch. A1 para. 2(1)(a) substituted (27.3.2006) by Insolvency (Northern Ireland) Order 2005 (S.I. 2005/1455 (N.I. 10)), arts. 1(3), 11(2) (with art. 4); S.R. 2006/21, art. 2 (with S.R. 2006/22, arts. 2 - 7)