{
  "url": "https://openlegislation.uk/insolvency-amendment-act-northern-ireland-2026/schedule-4/paragraph-7",
  "json_url": "https://openlegislation.uk/insolvency-amendment-act-northern-ireland-2026/schedule-4/paragraph-7.json",
  "legislation": "nia/2026/6",
  "legislation_title": "Insolvency (Amendment) Act (Northern Ireland) 2026",
  "legislation_url": "https://openlegislation.uk/insolvency-amendment-act-northern-ireland-2026",
  "path": "schedule/4/paragraph/7",
  "kind": "paragraph",
  "number": "7",
  "heading": null,
  "text": "(1) Modified Article 17A is amended as follows.\n(2) For paragraph (2) substitute—\n“(2) The decision has effect if, in accordance with the rules—\n(a) it has been taken by the meeting of the members of the partnership summoned under Article 16 and by the partnership’s creditors pursuant to that Article, or\n(b) (subject to any order made under paragraph (6)) it has been taken by the partnership’s creditors pursuant to that Article.”.\n(3) In paragraphs (3), (4)(a) and (6)(a), for “creditors’ meeting” substitute “partnership’s creditors”.\n(4) In paragraph (5), for “the Financial Services Authority is entitled to be heard on the application” substitute\n“the following persons are entitled to be heard on the application—\n(a) where the partnership is a PRA-regulated partnership, the Prudential Regulation Authority and the Financial Conduct Authority;\n(b) in any other case, the Financial Conduct Authority.”.\n(5) After paragraph (7) add—\n“(8) In this Article a “PRA-regulated partnership” is a partnership that—\n(a) is, or has been, a PRA-authorised person (within the meaning of the Financial Services and Markets Act 2000),\n(b) is, or has been, an appointed representative within the meaning given by section 39 of that Act, whose principal (or one of whose principals) is, or was, a PRA-authorised person, or\n(c) is carrying on, or has carried on, a PRA-regulated activity (within the meaning of that Act) in contravention of the general prohibition under section 19 of that Act.”.",
  "extent": "N.I.",
  "status": "prospective",
  "version": "current",
  "annotations": [
    {
      "type": "I",
      "label": "I1",
      "text": "Sch. 4 para. 7 not in operation at Royal Assent, see s. 120(02)"
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/nia/2026/6/schedule/4/paragraph/7",
    "retrieved_at": "2026-10-29T20:18:58.712686+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."
}