SCHEDULE 1U.K.Modifications to the law of insolvency

PART 2 U.K.Modifications to secondary legislation

Modifications to the Bank Insolvency (Scotland) Rules 2009U.K.

10.  The provisions of the Bank Insolvency (Scotland) Rules 2009 M1 apply in relation to an authorised bank—

(a)with any reference to “asset”, “property”, “sum” or “fund” modified so that it does not include a reference to the backing assets; and

(b)with any reference to the “1986 Rules” modified so that it is a reference to the Insolvency (Scotland) Rules 1986 as modified by paragraph 5 of this Schedule.