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The Payment and Electronic Money Institution Insolvency Regulations 2021
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There are currently no known outstanding effects for the The Payment and Electronic Money Institution Insolvency Regulations 2021, Paragraph 5.
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The IBSAR 2011U.K.
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5.—(1) The IBSAR 2011 are amended as follows.
(2) In regulation 8—
(a)after paragraph (1) insert—
“(1A) An application for an order under regulation 8 of the Payment and Electronic Money Institution Insolvency Regulations 2021 in respect of an investment bank may not be made unless the conditions in paragraph (5) are satisfied.”;
(b)in paragraph (8), in the definition of “preliminary steps taken in respect of an insolvency procedure”, after paragraph (a) insert—
“(aa)an application for an order under regulation 8 of the Payment and Electronic Money Institution Insolvency Regulations 2021 has been made;”.
(3) In regulation 22(1)—
(a)for “or” substitute a comma;
(b)after “administration order” insert “or an order under regulation 8 of the Payment and Electronic Money Institution Insolvency Regulations 2021”.
Commencement Information
I1Sch. 4 para. 5 in force at 8.7.2021, see reg. 2
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