6.—(1) Subject to paragraph (2), the court may not determine an application under section 107 for an order sanctioning a banking business transfer scheme [F1or reclaim fund business transfer scheme]—U.K.
(a)where the applicant has failed to comply with the requirements in regulation 5(2) or (3); and
(b)until a period of not less than twenty-one days has elapsed since [F2the appropriate regulator] was given the documents mentioned in regulation 5(5).
(2) The requirement in regulation 5(2)(b) may be waived by the court in such circumstances and subject to such conditions as the court considers appropriate.
Textual Amendments
F1Words in reg. 6(1) inserted (13.7.2009) by The Financial Services and Markets Act 2000 (Control of Business Transfers) (Requirements on Applicants) (Amendment) Regulations 2009 (S.I. 2009/1390), regs. 1, 2(d)
F2Words in reg. 6(1)(b) substituted (1.4.2013) by The Financial Services Act 2012 (Consequential Amendments and Transitional Provisions) Order 2013 (S.I. 2013/472), art. 1(1), Sch. 2 para. 62(a) (with Sch. 2 para. 63)
Commencement Information
I1Reg. 6 in force at 1.12.2001, see reg. 1(1)