Paragraph 8 Amendment of regulation 7

The following paragraph shall be inserted after paragraph (3) of regulation 7—

“(3A)

In respect of an application made by the liquidator under paragraphs (2) and (3), the Department, if requested to do so by the liquidator, may, at its discretion—

(a)

make the payment which is the subject of the application to the liquidator by electronic transfer, or

(b)

as an alternative to the issue of payment instruments, make payment by electronic transfer to the person to whom the liquidator would otherwise deliver payment instruments.”.