The Payment and Electronic Money Institution Insolvency (England and Wales) Rules 2021 No. 1178

PART 7 E+W Distributions to creditors

CHAPTER 3 E+W Quantification of claims

Disqualification from dividend E+W

151.—(1) If a creditor contravenes any provision of the Regulations or these Rules relating to the valuation of securities, the court may, on the application of the administrator, order that the creditor be wholly or partly disqualified from participation in any dividend.

(2) Notice of an application under paragraph (1) must be given by the administrator to the FCA and the FCA has the right to appear and be heard at the hearing of the application.

Commencement Information

I1 Rule 151 in force at 12.11.2021, see rule 2