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The Credit Institutions (Reorganisation and Winding up) Regulations 2004

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Interpretation of this Part

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, or order referred to in regulation 19(1) to which this Part applies; and

(c)“relevant time” means the date of the opening of a relevant reorganisation or a relevant winding up.

(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;

(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 or section 8(1) of the 1986 Act is in force, the date of the making of that order; and

(d)in a case where a provisional liquidator has been appointed, the date of that appointment,

and references to the time of an opening must be construed accordingly.

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