(1)In this Part—
“the 1986 Act” means the Insolvency Act 1986;
“business”, “member”, “property” and “security” have the same meaning as in the 1986 Act;
“company” has the meaning given by section 113;
“the court” means—
in England and Wales and Northern Ireland, the High Court;
in Scotland, the Court of Session;
“FMI administration order” and “FMI administrator” are to be read in accordance with section 114;
“infrastructure company” has the meaning given by section 112;
“operator”, in relation to a recognised F1... payment system, has the meaning given by section 113;
“recognised F1... payment system” has the meaning given by section 113;
“regulated activity” has the same meaning as in FSMA 2000;
“the relevant system” has the meaning given by section 113;
“securities settlement system” has the meaning given by section 113.
[F2“wholesale cash distribution” and “wholesale cash distribution activities” have the meanings given by section 113.]
(2)In this Part references to the FMI administrator of a company include a person appointed under paragraph 91 or 103 of Schedule B1 to the 1986 Act, as applied by Schedule 6 to this Act, to be the FMI administrator of a company.
(3)In this Part references to a person qualified to act as an insolvency practitioner in relation to a company are to be read in accordance with Part 13 of the 1986 Act, but as if references in that Part to a company included a company registered under the Companies Act 2006 in Northern Ireland.
Textual Amendments
F1Word in s. 127(1) omitted (27.6.2017) by virtue of Digital Economy Act 2017 (c. 30), s. 118(2), Sch. 9 para. 45
F2Words in s. 127(1) inserted (29.8.2023) by Financial Services and Markets Act 2023 (c. 29), s. 86(2)(d), Sch. 9 para. 9
Commencement Information
I1S. 127 in force at 13.7.2018 for E.W. by S.I. 2018/848, art. 2(c)