S.I. 2002/3150 (N.I. 4).

S.I. 1989/2405 (N.I. 19).

http://www.legislation.gov.uk/uksi/2023/1399/regulation/5/madeThe Payment and Electronic Money Institution Insolvency (Amendment) Regulations 2023enKing's Printer of Acts of Parliament2024-09-03FINANCIAL SERVICES AND MARKETSThese Regulations amend the Payment and Electronic Money Institution Insolvency Regulations 2021 (“the Regulations”), so that they are extended to limited liability partnerships formed under the law of Scotland. They also extend the Regulations to payment institutions and electronic money institutions incorporated in, or formed under, the law of Northern Ireland (“Northern Ireland institutions”). For this purpose, the Insolvency (Northern Ireland) Order 1989, the Limited Liability Partnerships Regulations (Northern Ireland) 2004 and the Insolvent Partnerships Order (Northern Ireland) 1995 are applied to Northern Ireland institutions with the necessary modifications to allow Northern Ireland institutions to be put into special administration.5Definitions 1

Regulation 6 is amended as follows.

2

In the table of definitions—

a

after the definition of “CDDA 1986”, insert—

CDD(NI)O 2002

Company Directors Disqualification (Northern Ireland) Order 2002

b

after the definition of “IA 1986”, insert—

I(NI)O 1989

Insolvency (Northern Ireland) Order 1989

3

The entries identified in the first column of the following Table are amended as specified in the second column—

Entry

Amendment

Contributory

At the beginning, insert “(a) in England and Wales and Scotland,”;

at the end insert—

, and

b

in Northern Ireland, has the same meaning as in the I(NI)O 1989 (see Article 13 of that Order) as applied and modified by these Regulations

Court

After “England and Wales” insert

“and in Northern Ireland”

Enactment

After paragraph (b), but before the “and” at the end of that paragraph, insert—

ba

an enactment contained in, or in an instrument made under, Northern Ireland legislation,

special administration insolvency rules

For the existing entry, substitute—

a

in relation to special administrations in England and Wales, or Scotland, means rules made under section 411 of the IA 1986,

b

in relation to special administrations in Northern Ireland, means rules made under Article 359 of the I(NI)O 1989,

in each case as applied and modified by these Regulations to give effect to these Regulations.

Schedule B1

for the existing entry, substitute—

a

in relation to special administrations in England and Wales, or Scotland, means Schedule B1 to the IA 1986;

b

in relation to special administrations in Northern Ireland, means Schedule B1 to the I(NI)O 1989.

Schedule B1 administration order

For “that Schedule” substitute

“Schedule B1 to the IA 1986 and paragraph 11 of Schedule B1 to the I(NI)O 1989”

statement of proposals

After “Schedule B1” insert

“to the IA 1986 or paragraph 50 of Schedule B1 to the I(NI)O 1989”
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Company Directors Disqualification (Northern Ireland) Order 2002
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Insolvency (Northern Ireland) Order 1989
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