# The Payment and Electronic Money Institution Insolvency Regulations 2021, Regulation 33: Objectives 1 and 3: PPTAs capital markets arrangements

Extent: E+W+S+N.I.

(1) A PPTA may not provide for the transfer of some (but not all) of the property, rights and liabilities which are or form part of a capital market arrangement to which the institution is a party (“CMPRL”).
(2) But paragraph (1) does not apply where the only property, rights and liabilities which are or are not transferred relate to deposits.
(3) If a PPTA purports to transfer all of the CMPRL despite a possibility that any of them are foreign property (and might not have been effectively transferred), the administrator may assume it is a PPTA which is not subject to the restriction in paragraph (1).
(4) In this regulation—
“capital market arrangement” has the meaning given by paragraph 1 of Schedule 2A to the IA 1986 or, as the case may be, paragraph 1 of Schedule 1A to the I(NI)O 1989;
“deposit” has the same meaning as in article 5 of the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001, disregarding the exclusions in other articles of that Order.

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Source: https://www.legislation.gov.uk/uksi/2021/716/regulation/33 (the official version)
Page: https://openlegislation.uk/payment-and-electronic-money-institution-insolvency-regulations-2021/regulation-33
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.