{
  "url": "https://openlegislation.uk/financial-market-infrastructure-administration-england-and-wales-rules-2018/article-5",
  "json_url": "https://openlegislation.uk/financial-market-infrastructure-administration-england-and-wales-rules-2018/article-5.json",
  "legislation": "uksi/2018/833",
  "legislation_title": "The Financial Market Infrastructure Administration (England and Wales) Rules 2018",
  "legislation_url": "https://openlegislation.uk/financial-market-infrastructure-administration-england-and-wales-rules-2018",
  "path": "article/5",
  "kind": "article",
  "number": "5",
  "heading": "Bank of England witness statement",
  "text": "(1) An FMI administration application must be accompanied by a witness statement made by or on behalf of the Bank which contains—\n(a) a statement of the infrastructure company’s financial position (to the best of the Bank’s knowledge and belief), specifying its assets and liabilities, including contingent and prospective liabilities, and including—\n(i) where the Bank makes a statement under rule 3(2)(i)(i), a statement of the reasons why the Bank believes that the infrastructure company is, or is likely to become, unable to pay its debts;\n(ii) where the Bank makes a statement under rule 3(2)(i)(ii), a statement that the Secretary of State has certified, or is to certify, to the court the matter referred to in section 117(2) of the 2013 Act;\n(b) details of any security which the Bank knows or believes to be held by a creditor of the infrastructure company;\n(c) a statement whether any security confers power to appoint an administrative receiver or an administrator under paragraph 14 of Schedule B1 (holder of qualifying floating charge);\n(d) a statement that an administrative receiver has been appointed, if that is the case;\n(e) a statement whether the Bank has received notice under section 122(1)(a) or (2)(b), 123(3)(a) or 124(a) of the 2013 Act, exhibiting a copy of the notice, if there is one;\n(f) details of any other insolvency proceedings in relation to the infrastructure company;\n(g) details of any FMI transfer scheme (within the meaning given by paragraph 4(1) of Schedule 7 to the 2013 Act) which the Bank intends to approve;\n(h) if more than one person is nominated for appointment as FMI administrator, a statement of the matters relating to the exercise of their functions set out in paragraph 100(2) of Schedule B1 (joint or concurrent exercise of functions);\n(i) the reasons for the statement that the FMI administration proceedings will be main, secondary, territorial or non-EC proceedings; and\n(j) particulars of any other matter which the Bank considers may help the court to decide whether to make the FMI administration order.\n(2) Where the infrastructure company is a designated service provider, the witness statement must identify the recognised payment system or securities settlement system (or, if there is more than one such system, each one) in relation to which the infrastructure company provides services.\n(3) The witness statement must—\n(a) identify the person who makes the statement;\n(b) state the capacity in which that person makes the statement; and\n(c) state the basis for that person’s knowledge of, or belief in, the matters set out in the statement.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/uksi/2018/833/article/5",
    "retrieved_at": "2026-10-28T22:55:41.268514+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."
}