{
  "url": "https://openlegislation.uk/draft-investment-bank-special-administration-regulations-2011/regulation-6",
  "json_url": "https://openlegislation.uk/draft-investment-bank-special-administration-regulations-2011/regulation-6.json",
  "legislation": "ukdsi/2011/9780111505588",
  "legislation_title": "The Investment Bank Special Administration Regulations 2011",
  "legislation_url": "https://openlegislation.uk/draft-investment-bank-special-administration-regulations-2011",
  "path": "regulation/6",
  "kind": "regulation",
  "number": "6",
  "heading": "Grounds for applying",
  "text": "(1) In this regulation—\n(a) Ground A is that the investment bank is, or is likely to become, unable to pay its debts;\n(b) Ground B is that it would be fair to put the investment bank into special administration; and\n(c) Ground C is that it is expedient in the public interest to put the investment bank into special administration.\n(2) The FSA or the persons listed in regulation 5(1)(a) to (e) may apply for a special administration order only if they consider that Ground A or Ground B is met.\n(3) The Secretary of State may apply for a special administration order only if it appears to the Secretary of State that Grounds B and C are met.\n(4) The sources of information on the basis of which the Secretary of State may reach a decision on Ground C include those listed in section 124A(1) of the Insolvency Act (petition for winding up on grounds of public interest).",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "footnote",
      "label": "f1",
      "text": "Section 124A was inserted by the Companies Act 1989 (c. 40), section 60(3) and amended by S.I. 2001/3649 and by the Companies (Audit, Investigations and Community Enterprise) Act 2004 (c. 27), section 25(1), Schedule 2, Part 3 paragraph 27."
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukdsi/2011/9780111505588/regulation/6",
    "retrieved_at": "2026-10-30T14:54:21.376569+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}