Regulation 10 Amendments to the Schedule

In the Schedule—

(a)

omit paragraph 1(1);

(b)

in paragraph 5(2), after “institution” insert “whose head office is in the United Kingdom”;

(c)

in paragraph 5(3)(a), for “the Settlement Finality Directive” substitute “these Regulations”;

(d)

in paragraph 5(4)—

(i)

after “participant” insert “established in the United Kingdom”;

(ii)

omit the “or” at the end of sub-paragraph (a);

(iii)

at the end of sub-paragraph (b) insert “or” and insert a new sub-paragraph (c) as follows—

“(c)
the appointment of an administrator under paragraph 14 or paragraph 22 of Schedule B1 to the Insolvency Act 1986 taking effect,”;

(e)

for the text following the new sub-paragraph (c) substitute—

“to notify forthwith both the system and the designating authority that such a resolution has been passed, that such a trust deed has become a protected trust deed or, as the case may be, that such appointment has taken effect.”.