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The Payment and Electronic Money Institution Insolvency Regulations 2021

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Changes over time for: Paragraph 5

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Point in time view as at 08/07/2021.

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There are currently no known outstanding effects for the The Payment and Electronic Money Institution Insolvency Regulations 2021, Paragraph 5. Help about Changes to Legislation

The IBSAR 2011U.K.

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5.—(1) The IBSAR 2011 are amended as follows.

(2) In regulation 8

(a)after paragraph (1) insert—

(1A) An application for an order under regulation 8 of the Payment and Electronic Money Institution Insolvency Regulations 2021 in respect of an investment bank may not be made unless the conditions in paragraph (5) are satisfied.;

(b)in paragraph (8), in the definition of “preliminary steps taken in respect of an insolvency procedure”, after paragraph (a) insert—

(aa)an application for an order under regulation 8 of the Payment and Electronic Money Institution Insolvency Regulations 2021 has been made;.

(3) In regulation 22(1)—

(a)for “or” substitute a comma;

(b)after “administration order” insert “or an order under regulation 8 of the Payment and Electronic Money Institution Insolvency Regulations 2021”.

Commencement Information

I1Sch. 4 para. 5 in force at 8.7.2021, see reg. 2

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