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The Credit Institutions (Reorganisation and Winding up) Regulations 2004
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- UK Statutory Instruments
- 2004 No. 1045
- PART 4
- Regulation 21
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The Credit Institutions (Reorganisation and Winding up) Regulations 2004, Section 21 is up to date with all changes known to be in force on or before 12 May 2024. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations.
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Changes and effects yet to be applied to Regulation 21:
- Regulations revoked by 2023 c. 29 Sch. 1 Pt. 2
Interpretation of this PartU.K.
21.—(1) For the purposes of this Part—
(a)“affected credit institution” means a UK credit institution which is the subject of a relevant reorganisation or winding up;
(b)“relevant reorganisation” or “relevant winding up” means any voluntary arrangement, administration, winding up, [F1making of a stabilisation instrument] or order referred to in regulation 19(1) to which this Part applies; F2...
F2(c). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(2) In this Part, references to the opening of a relevant reorganisation or a relevant winding up mean—
(a)in the case of winding-up proceedings—
(i)in the case of a winding up by the court, the date on which the winding-up order is made, or
(ii)in the case of a creditors' voluntary winding up, the date on which the liquidator is appointed in accordance with section 100 of the 1986 Act, Article 86 of the 1989 Order or paragraph 83 of Schedule B1 to the 1986 Act [F3or paragraph 84 of Schedule B1 to the 1989 Order];
(b)in the case of a voluntary arrangement, the date when a decision with respect to the approval of that voluntary arrangement has effect in accordance with section 4A(2) of the 1986 Act or Article 17A(2) of the 1989 Order;
(c)in a case where an administration order under paragraph 13 of Schedule B1 to the 1986 Act[F4, paragraph 14 of Schedule B1 to the 1989 Order,] section 8(1) of the 1986 Act [F5or Article 21(1) of the 1989 Order] is in force, the date of the making of that order; F6...
(d)in a case where a provisional liquidator has been appointed, the date of that appointment, [F7and
(e)in a case where a stabilisation instrument is made, the date on which that instrument is made,]
and references to the time of an opening must be construed accordingly.
Textual Amendments
F1Words in reg. 21(1)(b) inserted (10.1.2015) by The Bank Recovery and Resolution (No. 2) Order 2014 (S.I. 2014/3348), art. 1(2), Sch. 3 para. 10(7)(a)
F2Reg. 21(1)(c) and word omitted (31.12.2020) by virtue of The Credit Institutions and Insurance Undertakings Reorganisation and Winding Up (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/38), regs. 1(3), 3(11) (with Pt. 3 Ch. 1) (as amended by S.I. 2020/1301, reg. 3, Sch. para. 13(c)-(f)); 2020 c. 1, Sch. 5 para. 1(1)
F3Words in reg. 21(2)(a)(ii) inserted (6.4.2007) by The Credit Institutions (Reorganisation and Winding Up) (Amendment) Regulations 2007 (S.I. 2007/830), regs. 1, 2(16)(a)
F4Words in reg. 21(2)(c) substituted (6.4.2007) by The Credit Institutions (Reorganisation and Winding Up) (Amendment) Regulations 2007 (S.I. 2007/830), regs. 1, 2(16)(b)
F5Words in reg. 21(2)(c) inserted (6.4.2007) by The Credit Institutions (Reorganisation and Winding Up) (Amendment) Regulations 2007 (S.I. 2007/830), regs. 1, 2(16)(c)
F6Word in reg. 21(2) omitted (10.1.2015) by virtue of The Bank Recovery and Resolution (No. 2) Order 2014 (S.I. 2014/3348), art. 1(2), Sch. 3 para. 10(7)(b)
F7Reg. 21(2)(e) and word inserted (10.1.2015) by The Bank Recovery and Resolution (No. 2) Order 2014 (S.I. 2014/3348), art. 1(2), Sch. 3 para. 10(7)(c)
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