Print Options
PrintThe Whole
Instrument
PrintThis
Section
only
Changes over time for: Section 34
Llinell Amser Newidiadau
This timeline shows the different points in time where a change occurred. The dates will coincide with the earliest date on which the change (e.g an insertion, a repeal or a substitution) that was applied came into force. The first date in the timeline will usually be the earliest date when the provision came into force. In some cases the first date is 01/02/1991 (or for Northern Ireland legislation 01/01/2006). This date is our basedate. No versions before this date are available. For further information see the Editorial Practice Guide and Glossary under Help.
Status:
Point in time view as at 08/07/2021.
Changes to legislation:
There are currently no known outstanding effects for the The Payment and Electronic Money Institution Insolvency Regulations 2021, Section 34.
Changes to Legislation
Revised legislation carried on this site may not be fully up to date. At the current time any known changes or effects made by subsequent legislation have been applied to the text of the legislation you are viewing by the editorial team. Please see ‘Frequently Asked Questions’ for details regarding the timescales for which new effects are identified and recorded on this site.
Objectives 1 and 3: PPTAs: financial marketsU.K.
This
adran has no associated
Memorandwm Esboniadol
34.—(1) A PPTA may not transfer property, rights and liabilities to the extent that doing so would have the effect of modifying, modifying the operation of, or rendering unenforceable—
(a)a market contract;
(b)the default rules of the Payment Systems Regulator; or
(c)any rules of the Payment Systems Regulator not dealt with under its default rules.
(2) A PPTA is void in so far as it is made in contravention of this regulation.
(3) In this regulation—
“default rules” has the same meaning as in the Companies Act 1989() (see section 188 of that Act);
“market contract” has the same meaning as in the FSMA 2000 (see section 286(4) of that Act).
Yn ôl i’r brig