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7. The provisions of the Bank Administration Rules (Northern Ireland) 2009(1) apply in relation to an authorised bank—
(a)with any reference to “insolvent estate”, “property” or “asset” modified so that it does not include a reference to the backing assets; and
(b)with any reference to the “1991 Rules” modified so that it is a reference to the Insolvency Rules (Northern Ireland) 1991 as modified by paragraph 6 of this Schedule.
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