{
  "url": "https://openlegislation.uk/financial-markets-and-insolvency-regulations-northern-ireland-1996",
  "json_url": "https://openlegislation.uk/financial-markets-and-insolvency-regulations-northern-ireland-1996.json",
  "id": "nisr/1996/252",
  "title": "Financial Markets and Insolvency Regulations (Northern Ireland) 1996",
  "short_title": "Financial Markets and Insolvency 1996",
  "long_title": "The Regulations apply with modifications certain provisions of Part V of the Companies (No. 2) (Northern Ireland) Order 1990 (S.I. 1990/1504 (N.I. 10)) (“Part V”) to certain charges (and to property subject to those charges) granted in favour of those who undertake assured payment obligations in connection with the settlement of transactions through a relevant system in respect of which an Operator has been approved under the Uncertificated Securities Regulations 1995 (S.I. 1995/3272). The provisions applied are ones which modify the way in which the charges in question are treated in the event of an administration or certain kinds of receivership under the Insolvency (Northern Ireland) Order 1989 (S.I. 1989/2405 (N.I. 19)) and ones which modify the way in which rights of persons other than the chargee may be exercised in relation to property subject to those charges.",
  "citation": "S.R. 1996/252",
  "type": "nisr",
  "year": "1996",
  "number": "252",
  "version": "current",
  "date": "1996-06-25",
  "revised": true,
  "valid_from": "1996-07-15",
  "extent": "N.I.",
  "unapplied_effects": 13,
  "provisions": [
    {
      "path": "introduction",
      "kind": "introduction",
      "number": null,
      "heading": "Introductory text",
      "url": "https://openlegislation.uk/financial-markets-and-insolvency-regulations-northern-ireland-1996/introduction",
      "extent": "N.I.",
      "status": null,
      "parent": null
    },
    {
      "path": "part/I",
      "kind": "part",
      "number": "I",
      "heading": "General",
      "url": null,
      "extent": "N.I.",
      "status": null,
      "parent": null
    },
    {
      "path": "regulation/1",
      "kind": "regulation",
      "number": "1",
      "heading": "Citation and commencement",
      "url": "https://openlegislation.uk/financial-markets-and-insolvency-regulations-northern-ireland-1996/regulation-1",
      "extent": "N.I.",
      "status": null,
      "parent": "part/I"
    },
    {
      "path": "regulation/2",
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      "number": "2",
      "heading": "Interpretation",
      "url": "https://openlegislation.uk/financial-markets-and-insolvency-regulations-northern-ireland-1996/regulation-2",
      "extent": "N.I.",
      "status": null,
      "parent": "part/I"
    },
    {
      "path": "part/II",
      "kind": "part",
      "number": "II",
      "heading": "System charges",
      "url": null,
      "extent": "N.I.",
      "status": null,
      "parent": null
    },
    {
      "path": "regulation/3",
      "kind": "regulation",
      "number": "3",
      "heading": "Application of Part V of the Order in relation to system-charges",
      "url": "https://openlegislation.uk/financial-markets-and-insolvency-regulations-northern-ireland-1996/regulation-3",
      "extent": "N.I.",
      "status": null,
      "parent": "part/II"
    },
    {
      "path": "regulation/4",
      "kind": "regulation",
      "number": "4",
      "heading": "Circumstances in which Part V of the Order applies in relation to system-charge",
      "url": "https://openlegislation.uk/financial-markets-and-insolvency-regulations-northern-ireland-1996/regulation-4",
      "extent": "N.I.",
      "status": null,
      "parent": "part/II"
    },
    {
      "path": "regulation/5",
      "kind": "regulation",
      "number": "5",
      "heading": "Extent to which Part V applies to a system-charge",
      "url": "https://openlegislation.uk/financial-markets-and-insolvency-regulations-northern-ireland-1996/regulation-5",
      "extent": "N.I.",
      "status": null,
      "parent": "part/II"
    },
    {
      "path": "regulation/6",
      "kind": "regulation",
      "number": "6",
      "heading": "Limitation on disapplication of Articles 23(1)(b) and 24(3)(c) of the Insolvency (Northern Ireland) Order 1989 in relation to system-charges",
      "url": "https://openlegislation.uk/financial-markets-and-insolvency-regulations-northern-ireland-1996/regulation-6",
      "extent": "N.I.",
      "status": null,
      "parent": "part/II"
    },
    {
      "path": "regulation/7",
      "kind": "regulation",
      "number": "7",
      "heading": "Limitation on disapplication of Articles 23(1)(b) and 24(3)(c) of the Insolvency (Northern Ireland) Order 1989 in relation to system-charges granted by a system-beneficiary",
      "url": "https://openlegislation.uk/financial-markets-and-insolvency-regulations-northern-ireland-1996/regulation-7",
      "extent": "N.I.",
      "status": null,
      "parent": "part/II"
    },
    {
      "path": "regulation/8",
      "kind": "regulation",
      "number": "8",
      "heading": "Ability of administrator or receiver to recover assets in case of property subject to system-charge",
      "url": "https://openlegislation.uk/financial-markets-and-insolvency-regulations-northern-ireland-1996/regulation-8",
      "extent": "N.I.",
      "status": null,
      "parent": "part/II"
    },
    {
      "path": "signature",
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      "heading": "Signature",
      "url": "https://openlegislation.uk/financial-markets-and-insolvency-regulations-northern-ireland-1996/signature",
      "extent": "N.I.",
      "status": null,
      "parent": null
    },
    {
      "path": "note",
      "kind": "note",
      "number": null,
      "heading": "Explanatory note",
      "url": "https://openlegislation.uk/financial-markets-and-insolvency-regulations-northern-ireland-1996/note",
      "extent": "N.I.",
      "status": null,
      "parent": null
    }
  ],
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      "affecting_title": "The Insolvency (Northern Ireland) Order 2005 (Minor and Consequential Amendments) Order (Northern Ireland) 2006",
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      "affecting_provisions": "Sch. para. 16(a)"
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      "type": "words substituted",
      "affected_provisions": "reg. 8(2)",
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    {
      "type": "applied (with modifications)",
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      "affecting_title": "The Payment and Electronic Money Institution Insolvency (Amendment) Regulations 2023",
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  "instruments_made_under_url": "https://openlegislation.uk/financial-markets-and-insolvency-regulations-northern-ireland-1996/instruments.json",
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/nisr/1996/252",
    "retrieved_at": "2026-11-14T03:32:38.517245+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."
}