Paragraph 4 The EMR 2011I1

at the appropriate places insert —

• ““electronic money institution special administration” has the same meaning as in the Payment and Electronic Money Institution Insolvency Regulations 2021 (see regulation 4(3));”;

• ““investment bank special administration” has the same meaning as in the Investment Bank Special Administration Regulations 2011 (see regulation 3(1) of those Regulations).”;

in the definition of “insolvency event”, omit the “or” at the end of paragraph (k) and after paragraph (l) insert—

“;

(m)

the entry of the institution into payment institution special administration; or

(n)

the entry of the institution into investment bank special administration.”.

in the heading, at the end insert “(except electronic money institution special administration)”;

in paragraph (1) after “insolvency event” insert “(except electronic money institution special administration)”.