# The Payment and Electronic Money Institution Insolvency (England and Wales) Rules 2021, Article 151: Disqualification from dividend

Extent: E+W

(1) If a creditor contravenes any provision of the Regulations or these Rules relating to the valuation of securities, the court may, on the application of the administrator, order that the creditor be wholly or partly disqualified from participation in any dividend.
(2) Notice of an application under paragraph (1) must be given by the administrator to the FCA and the FCA has the right to appear and be heard at the hearing of the application.

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Source: https://www.legislation.gov.uk/uksi/2021/1178/article/151 (the official version)
Page: https://openlegislation.uk/payment-and-electronic-money-institution-insolvency-england-and-wales-rules-2021/article-151
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.