- Latest available (Revised)
- Original (As made)
This is the original version (as it was originally made).
18.—(1) This regulation applies where—
(a)the administrator’s statement of proposals under regulation 17 has been agreed with the FSA (or the court has made an order dispensing with the need for agreement);
(b)the administrator proposes a revision to the proposals;
(c)the administrator thinks the revision is substantial; and
(d)the FSA has not withdrawn its direction given under regulation 16.
(2) The administrator shall agree the revised statement with the FSA.
(3) Regulation 17(4) to (7) shall apply where the administrator is unable to agree the revised statement with the FSA.
(4) After the revised statement has been agreed with the FSA (or the court has made an order dispensing with the need for agreement) the administrator shall send the revised statement to—
(a)every creditor of the investment bank of whose claim and address the administrator is aware;
(b)every client of the investment bank of whose claim the administrator is aware and has a means of contacting;
(c)every member of the investment bank of whose address the administrator is aware.
(5) The administrator shall be taken to have complied with paragraph (4)(c) if the administrator publishes a notice undertaking to provide a copy of the revised statement free of charge to any member of the investment bank who applies in writing to a specified address.
(6) A notice under paragraph (5) shall be published in the prescribed manner and within the prescribed period.
(7) The administrator shall send a copy of the revised statement to—
(a)the court; and
(b)the registrar of companies.
Latest Available (revised):The latest available updated version of the legislation incorporating changes made by subsequent legislation and applied by our editorial team. Changes we have not yet applied to the text, can be found in the ‘Changes to Legislation’ area.
Original (As Enacted or Made): The original version of the legislation as it stood when it was enacted or made. No changes have been applied to the text.
Explanatory Memorandum sets out a brief statement of the purpose of a Statutory Instrument and provides information about its policy objective and policy implications. They aim to make the Statutory Instrument accessible to readers who are not legally qualified and accompany any Statutory Instrument or Draft Statutory Instrument laid before Parliament from June 2004 onwards.
Access essential accompanying documents and information for this legislation item from this tab. Dependent on the legislation item being viewed this may include:
Impact Assessments generally accompany all UK Government interventions of a regulatory nature that affect the private sector, civil society organisations and public services. They apply regardless of whether the regulation originates from a domestic or international source and can accompany primary (Acts etc) and secondary legislation (SIs). An Impact Assessment allows those with an interest in the policy area to understand:
Use this menu to access essential accompanying documents and information for this legislation item. Dependent on the legislation item being viewed this may include:
Click 'View More' or select 'More Resources' tab for additional information including: