OpenLegislation

Article 2 Interpretation

Original text. Later amendments are not shown.

(1)

In these Rules—

  • “the 1986 Act” means the Insolvency Act 1986;

  • “the 2000 Act” means the Financial Services and Markets Act 2000f1;

  • “the 2013 Act” means the Financial Services (Banking Reform) Act 2013;

  • “the Bank” means the Bank of England;

  • “business day” means any day other than a Saturday, a Sunday, Christmas Day, Good Friday or a day which is a bank holiday in England and Wales;

  • “the court”, except in the reference to the County Court in rule 12(3)(l), means the High Court;

  • “designated service provider” means a company designated under section 112(4) of the 2013 Act;

  • “the FCA” means the Financial Conduct Authority;

  • “FMI administration” means the procedure for which provision is made by Part 6 of the 2013 Actf2 (special administration for operators of certain infrastructure systems);

  • “FMI administration application” means an application by the Bank for an FMI administration order in respect of an infrastructure company;

  • “the Insolvency Rules” means the Insolvency (England and Wales) Rules 2016f3;

  • “operator of a securities settlement system” means a company which, in relation to the securities settlement system concerned, is an infrastructure company by virtue of falling within section 112(2)(b) of the 2013 Actf4;

  • “Payment Systems Regulator” means the body established under section 40 of the 2013 Act;

  • “personal service” is a reference to personal service in accordance with Part 6 of the Civil Procedure Rules 1998f5;

  • “the PRA” means the Prudential Regulation Authority;

  • “PRA-authorised person” has the meaning given by section 2B(5)f6 of the 2000 Act; and

  • “Schedule B1” means Schedule B1 to the 1986 Actf7.

(2)

In these Rules the following expressions have the same meaning as in Part 6 of the 2013 Actf8—

(a)

“FMI administration order”;

(b)

“FMI administrator”;

(c)

“infrastructure company”;

(d)

“operator”, in relation to a recognised payment systemf9;

(e)

“recognised payment system”; and

(f)

“securities settlement system”.

(3)

In these Rules the following expressions have the meaning given in rule 1(2) of the Insolvency Rules—

(a)

“Article 1.2 undertaking”;

(b)

“deliver” and “deliver to the creditors”;

(c)

“enforcement agent”;

(d)

“file with the court”;

(e)

“IP number”;

(f)

“main proceedings”;

(g)

“non-EC proceedings”;

(h)

“secondary proceedings”

(i)

“territorial proceedings”

(j)

“venue”; and

(k)

“witness statement”.

Annotations

Footnotes

f1

2000 c. 8.

f2

Schedule 6 to the 2013 Act (conduct of FMI administration) was amended by S.I. 2017/400 and by S.I. 2018/208.

f3

S.I. 2016/1024, as amended by 2017/1115.

f4

Section 112(2)(b) was substituted by S.I. 2017/1064. The substituted definition is subject to a savings provision in regulation 7(3)(b) of S.I 2017/1064.

f5

S.I. 1998/3132 as amended by S.I. 2004/3419. There are other amendments, but they are not relevant.

f6

Section 2B was substituted with the rest of Part 1A of the 2000 Act by the Financial Services Act 2012 (c.21), section 6(1).

f7

Schedule B1 was inserted by the Enterprise Act 2002 (c.40), section 248(2) and Schedule 16.

f8

See sections 112, 113 and 114 of the 2013 Act.

f9

The words “inter-bank” were omitted from the definitions of “operator” and “recognised payment system” by the Digital Economy Act 2017 (c. 30), section 113 and Schedule 9.