The Payment and Electronic Money Institution Insolvency (Amendment) Regulations 2023
1Citation, commencement and extent
2Amendment of the Payment and Electronic Money Institution Insolvency Regulations 2021
3Extent
4Application: Scottish partnerships
5Definitions
6Application for order
7Grounds for applying
8Powers of the court
9Notice to the FCA: other proceedings
10Objectives 1 and 3: PPTAs capital markets arrangements
11Application of the IA 1986 in England, Wales and Scotland
12Application of the I(NI)O 1989
13FCA direction
14Administrator’s proposals in the event of FCA direction
15FCA direction withdrawn
16Safeguarding failures: costs of the administration
17Successful rescue
18Dissolution or voluntary arrangement
19Disqualification of directors
20Further provision on special administration: Schedules 1 and 2
21Amendments to Schedule 3
SCHEDULE 1Inserted Schedule 1A to the Payment and Electronic Money Institution Insolvency Regulations 2021
SCHEDULE 2Inserted Schedule 2A to the Payment and Electronic Money Institution Insolvency Regulations 2021

2023 No. 1399

Financial Services And Markets

The Payment and Electronic Money Institution Insolvency (Amendment) Regulations 2023

Made

Coming into force

The Treasury make these Regulations in exercise of the powers conferred by sections 233 and 234 of the Banking Act 20091, as applied and modified by regulation 24A of, and paragraphs 2 and 3 of Schedule 2ZA to, the Electronic Money Regulations 20112 (“EMR 2011”) and regulation 23A of, and paragraphs 2 and 3 of Schedule 3A to, the Payment Services Regulations 20173 (“PSR 2017”), and section 259(1) of that Act.

The Treasury have consulted in accordance with section 235(3) of the Banking Act 2009 as applied and modified by regulation 24A of, and paragraph 4 of Schedule 2ZA to, the EMR 2011 and regulation 23A of, and paragraph 4 of Schedule 3A to, the PSR 2017.

A draft of these Regulations has been laid before and approved by a resolution of each House of Parliament in accordance with section 235(2) of the Banking Act 2009 as applied and modified by regulation 24A of, and paragraph 4 of Schedule 2ZA to, the EMR 2011 and regulation 23A of, and paragraph 4 of Schedule 3A to, the PSR 2017.