Regulation 43 Successful rescueI1
United Kingdom
(1)
This regulation applies if the administrator has—
(a)
in pursuit of Objective 3, pursued the rescue of the institution as a going concern, and
(b)
thinks that this has been sufficiently achieved.
(2)
The administrator must make an application in accordance with paragraph 79 of Schedule B1 F1to the IA 1986 or, as the case may be, paragraph 80 of Schedule B1 to the I(NI)O 1989, as applied and modified by these Regulations.
(3)
An administrator who makes an application referred to in paragraph (2) must send a copy to the FCA.
Annotations
Textual amendments
- F1
Words in reg. 43(2) inserted (4.1.2024) by The Payment and Electronic Money Institution Insolvency (Amendment) Regulations 2023 (S.I. 2023/1399), regs. 1(2), 17
Commencement
- I1
Reg. 43 in force at 8.7.2021, see reg. 2