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Changes over time for: Section 4
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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Point in time view as at 08/07/2021.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 4.
Changes to Legislation
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4.—(1) Regulations 7 to 48 and Schedules 1 to 4 make provision about the insolvency of payment institutions and electronic money institutions (“institutions”).
(2) Regulations 7 to 47 and Schedules 1 to 4 set out a special alternative procedure for the insolvency of institutions.
(3) The procedure is to be known as—
(a)payment institution special administration, where the institution is a payment institution, or
(b)electronic money institution special administration, where the institution is an electronic money institution.
(4) Regulation 48 applies with modifications various provisions of Part 24 of the Financial Services and Markets Act 2000() (“FSMA 2000”) to institutions except in respect of special administration.
(5) Regulation 49 corrects a defect in an instrument relating to the United Kingdom’s withdrawal from the European Union and bank recovery and resolution.
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