Transitional provision in connection with the Financial Markets and Insolvency (Settlement Finality) Regulations 1999
This section has no associated Explanatory Memorandum
28. For the purposes of regulation 7 of the Financial Markets and Insolvency (Settlement Finality) Regulations 1999, the Bank of England may exercise the power to revoke a designation order where—
(a)the designation order was made before 1st April 2013, and
(b)if an application for the designation order had been made on 1st April 2013, it would have been made to the Bank of England as the designating authority.