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The Payment and Electronic Money Institution Insolvency Regulations 2021
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- UK Statutory Instruments
- 2021 No. 716
- Regulation 41
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FCA direction withdrawnU.K.
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41.—(1) This regulation applies if, after the administrator’s statement of proposals has been agreed with FCA or the court has made an order dispensing with the need for agreement under regulation 39, the direction is then withdrawn.
(2) If the administrator proposes a revision to the statement of proposals and the administrator thinks that the proposed revision is substantial, then paragraphs 54 and 55 of Schedule B1 [F1to the IA 1986 or, as the case may be, paragraphs 55 and 56 of Schedule B1 to the I(NI)O 1989,] apply (as modified by these Regulations).
Textual Amendments
F1Words in reg. 41(2) inserted (4.1.2024) by The Payment and Electronic Money Institution Insolvency (Amendment) Regulations 2023 (S.I. 2023/1399), regs. 1(2), 15
Commencement Information
I1Reg. 41 in force at 8.7.2021, see reg. 2
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