Article 193 Other exemptionsI1

United Kingdom

(1)

Proceedings for a recovery order may not be taken against the F1Financial Conduct Authority, the Prudential Regulation Authority or the Bank of England in respect of any recoverable property held by the authority.

(2)

Proceedings for a recovery order may not be taken in respect of any property which is subject to any of the following charges—

(a)

a collateral security charge, within the meaning of the Financial Markets and Insolvency (Settlement Finality) Regulations 1999^f1,

(b)

a market charge, within the meaning of Part 7 of the Companies Act 1989^f2,

(c)

a money market charge, within the meaning of the Financial Markets and Insolvency (Money Market) Regulations 1995^f3,

(d)

a system charge, within the meaning of the Financial Markets and Insolvency Regulations 1996^f4 or the Financial Markets and Insolvency Regulations (Northern Ireland) 1996^f5.

(3)

Proceedings for a recovery order may not be taken against any person in respect of any recoverable property which he holds by reason of his acting or having acted, as an insolvency practitioner.

Acting as an insolvency practitioner has the same meaning as in article 4.

Annotations

Textual amendments

F1: Words in art. 193(1) substituted (1.4.2013) by The Financial Services Act 2012 (Consequential Amendments and Transitional Provisions) Order 2013 (S.I. 2013/472), Sch. 2 para. 110

Commencement

I1: Art. 193 in force at 1.1.2006, see art. 1

Footnotes

f1: S.I. 1999/2979.
f2: 1989 c. 40.
f3: S.I. 1995/2049.
f4: S.I. 1996/1469.
f5: S.R. (N.I.) 1996/252.