53.—(1) Where an asset is recorded in the records and accounts of a protected cell company as an asset held by the protected cell company on behalf of a cell, the protected cell company may only amend its records and accounts so as to reallocate that asset to the core where—
(a)the amendment is made pursuant to a contract which the protected cell company has entered into on behalf of the cell and the core;
(b)the records and accounts mistakenly allocate the asset to the cell and the amendment corrects that mistake;
(c)the asset is deemed to be moved to the core by virtue of regulation 179(1)(c) (dissolution of a cell: effect on property and liabilities);
(d)the following conditions are satisfied—
(i)the protected cell company previously assumed a risk or a succession of risks from an undertaking, or risks from a succession of undertakings, on behalf of the cell or, if the cell is a member of a group of cells, on behalf of any of the cells in that group of cells;
(ii)the protected cell company no longer has any liability to that undertaking or those undertakings on behalf of the cell or, if the cell is a member of a group of cells, on behalf of any of the cells in that group; and
(iii)all the investors holding investments issued on behalf of the cell have been paid in full; or
(e)the amendment is made pursuant to an order of the court.
(2) An amendment made in contravention of paragraph (1) has no effect.