Paragraph 7 F1

Article 16 of the IPO (NI) 1995 applies to an institution which is formed as a partnership—

(a)

reading Article 16 as if the reference to being wound up under the I(NI)O 1989 were to entering special administration;

(b)

reading the reference to the provisions of the CDD(NI)O 2002 as if it were a reference to—

(i)

Articles 3, 4, 12 to 14, 19C and 23 of that Order as applied and modified by regulation 46A, and

(ii)

the versions of Articles 9 to 11, 18 to 19 and 21 of and Schedule 1 to that Order set out in Schedule 8 to the IPO (NI) 1995, reading those versions as if they were modified by regulation 46A,

subject to the further general modifications of the provisions mentioned in sub-paragraphs (a) and (b) in paragraph 8.

Annotations

Textual amendments

F1: Sch. 2A inserted (4.1.2024) by The Payment and Electronic Money Institution Insolvency (Amendment) Regulations 2023 (S.I. 2023/1399), reg. 1(2), Sch. 2