# The Payment and Electronic Money Institution Insolvency Regulations 2021, Paragraph 4: The EMR 2011


(1) The EMR 2011 are amended as follows.
(2) In regulation 22, in paragraph (3)—
(a) at the appropriate places insert —
““electronic money institution special administration” has the same meaning as in the Payment and Electronic Money Institution Insolvency Regulations 2021 (see regulation 4(3));”;
““investment bank special administration” has the same meaning as in the Investment Bank Special Administration Regulations 2011 (see regulation 3(1) of those Regulations).”;
(b) in the definition of “insolvency event”, omit the “or” at the end of paragraph (k) and after paragraph (l) insert—
“;
(m) the entry of the institution into payment institution special administration; or
(n) the entry of the institution into investment bank special administration.”.
(3) In regulation 24—
(a) in the heading, at the end insert “(except electronic money institution special administration)”;
(b) in paragraph (1) after “insolvency event” insert “(except electronic money institution special administration)”.

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Source: https://www.legislation.gov.uk/ukdsi/2021/9780348222814/schedule/4/paragraph/4 (the official version)
Page: https://openlegislation.uk/draft-payment-and-electronic-money-institution-insolvency-regulations-2021/schedule-4/paragraph-4
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.