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Rule 161 Third excepted case

Original text. Later amendments are not shown.

The court’s leave under section 216(3) of the 1986 Act is not required where the investment bank there referred to, though known by a prohibited name within the meaning of the section—

(a)

has been known by that name for the whole of the period of 12 months ending with the day before the investment bank went into special administration, and

(b)

has not at any time in those 12 months been dormant within the meaning of section 1169(1), (2) and (3)(a) of the 2006 Act.