{
  "url": "https://openlegislation.uk/draft-payment-and-electronic-money-institution-insolvency-regulations-2021/regulation-33",
  "json_url": "https://openlegislation.uk/draft-payment-and-electronic-money-institution-insolvency-regulations-2021/regulation-33.json",
  "legislation": "ukdsi/2021/9780348222814",
  "legislation_title": "The Payment and Electronic Money Institution Insolvency Regulations 2021",
  "legislation_url": "https://openlegislation.uk/draft-payment-and-electronic-money-institution-insolvency-regulations-2021",
  "path": "regulation/33",
  "kind": "regulation",
  "number": "33",
  "heading": "Objectives 1 and 3: PPTAs capital markets arrangements",
  "text": "(1) A PPTA may not provide for the transfer of some (but not all) of the property, rights and liabilities which are or form part of a capital market arrangement to which the institution is a party (“CMPRL”).\n(2) But paragraph (1) does not apply where the only property, rights and liabilities which are or are not transferred relate to deposits.\n(3) If a PPTA purports to transfer all of the CMPRL despite a possibility that any of them are foreign property (and might not have been effectively transferred), the administrator may assume it is a PPTA which is not subject to the restriction in paragraph (1).\n(4) In this regulation—\n“capital market arrangement” has the meaning given by paragraph 1 of Schedule 2A to the IA 1986;\n“deposit” has the same meaning as in article 5 of the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001, disregarding the exclusions in other articles of that Order.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "footnote",
      "label": "f1",
      "text": "Paragraph 1 was amended by S.I. 2003/2093."
    },
    {
      "type": "footnote",
      "label": "f2",
      "text": "S.I. 2001/544, amended by S.I. 2002/682. There are other amending instruments but none is relevant."
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukdsi/2021/9780348222814/regulation/33",
    "retrieved_at": "2026-10-30T14:47:23.719408+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."
}