SCHEDULE

PART 2SECONDARY LEGISLATION

THE FINANCIAL MARKETS AND INSOLVENCY (SETTLEMENT FINALITY) REGULATIONS 1999

75

In regulation 14 (proceedings of designated system take precedence over insolvency proceedings)—

a

in paragraph (5)—

i

in sub-paragraph (a)(ii) for “one in relation to which an administration order is made” substitute “in administration”, and

ii

for “section 19(4) of the Insolvency Act 1986, section 40 (or, in Scotland, section 59 and 60(1)(e)) of that Act” substitute “section 40 (or, in Scotland, section 59 and 60(1)(e)) of the Insolvency Act 1986, paragraph 99(3) of Schedule B1 to that Act”, and

b

in paragraph (6)(a) for “section 19(4) of that Act” substitute “paragraph 99(3) of Schedule B1 to that Act”.