# The Payment and Electronic Money Institution Insolvency (England and Wales) Rules 2021, Article 243: Second excepted case

Extent: E+W

(1) Where a person (“P”) to whom section 216 applies, applies for permission of the court under that section not later than seven business days from the date on which the institution went into special administration, P may, during the period specified in paragraph (2), act in any of the ways mentioned in section 216(3), notwithstanding that P has not the permission of the court under that section.
(2) The period referred to in paragraph (1) begins with the day on which the institution goes into special administration and ends either on the day falling six weeks after that date or on the day on which the court disposes of the application for permission under section 216, whichever of those days occurs first.

---
Source: https://www.legislation.gov.uk/uksi/2021/1178/article/243 (the official version)
Page: https://openlegislation.uk/payment-and-electronic-money-institution-insolvency-england-and-wales-rules-2021/article-243
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.