BA 2009

Banking Act 20096

CA 2006

Companies Act 20067

CDDA 1986

Company Directors Disqualification Act 19868

F3CDD(NI)O 2002

Company Directors Disqualification (Northern Ireland) Order 2002

FSMA 2000

has the meaning given in regulation 4(4)

IA 1986

Insolvency Act 19869

F1I(NI)O 1989

Insolvency (Northern Ireland) Order 1989

SBEEA 2015

Small Business, Enterprise and Employment Act 201510

EMR 2011

Electronic Money Regulations 201111

IBSAR 2011

Investment Bank Special Administration Regulations 201112

PSR 2017

Payment Services Regulations 201713

administrator (except in the expression Schedule B1 administrator)

person appointed under regulation 7

agency or distribution services (in the case of electronic money institutions)

services provided by an agent or distributor within the meaning of regulation 2(1) of the EMR 2011

agency services (in the case of a payment institutions)

services provided by an agent within the meaning of regulation 2(1) of the PSR 2017

asset pool (in the case of electronic money institutions)

(a) in the case of funds received for the execution of payment transactions which are not related to the issuance of electronic money, see regulation 23(18) of the PSR 2017, or

(b) in any other case, see regulation 24(4) of the EMR 2011

asset pool (in the case of payment institutions)

see regulation 23(18) of the PSR 2017

authorised payment institution

see regulation 2(1) of the PSR 2017

Authorities

the Bank of England, the Treasury and the FCA

contributory

F2(a) in England and Wales and Scotland, has the same meaning as in the IA 1986 (see section 79 of that Act) as applied and modified by these Regulations F2, and

(b) in Northern Ireland, has the same meaning as in the I(NI)O 1989 (see Article 13 of that Order) as applied and modified by these Regulations

court

(a) in England and Wales F2and in Northern Ireland, the High Court, and

(b) in Scotland, the Court of Session

electronic money

see regulation 2(1) of the EMR 2011

electronic money institution

see regulation 2(1) of the EMR 2011

enactment

includes—

(a) an enactment contained in, or in an instrument made under, an Act of the Scottish Parliament,

(b) an enactment contained in, or in an instrument made under, a Measure or Act of Senedd Cymru,

F2(ba) an enactment contained in, or in an instrument made under, Northern Ireland legislation, and

(c) any retained direct EU legislation

fair

has the same meaning as in Part 2 of the BA 2009 (see section 93(8) of that Act)

FCA

Financial Conduct Authority

foreign property

has the same meaning as in the BA 2009 (see section 39(2) of that Act)

holder

electronic money holder

special administration insolvency rules

F4(a) in relation to special administrations in England and Wales, or Scotland, means rules made under section 411 of the IA 1986,

(b) in relation to special administrations in Northern Ireland, means rules made under Article 359 of the I(NI)O 1989,

in each case as applied and modified by these Regulations to give effect to these Regulations.

institution

has the meaning given in regulation 4(1)

institution’s own bank accounts

includes any account, other than a relevant funds account, opened by the administrator for the purposes of the special administration

Objective 1

has the meaning given in regulation in 12(2)

Objective 2

has the meaning given in regulation in 12(3)

Objective 3

has the meaning given in regulation in 12(4)

payment institution

authorised payment institution or small payment institution

payment services

see regulation 2(1) of the PSR 2017

payment system

has the same meaning as in the BA 2009 (see section 182 of that Act14)

payment system operator

has the same meaning as in the BA 2009 (see section 183 of that Act15)

payment transaction

see regulation 2(1) of the PSR 2017

PPTA

has the meaning given in regulation 24(3)

PS or EMI contract

contract for payment services or electronic money issuance

relevant funds (in the case of electronic money institutions)

(a) in the case of funds received for the execution of payment transactions which are not related to the issuance of electronic money, see regulation 23(1) and (2) of the PSR 2017

(b) in any other case, see regulation 20(1) of the EMR 2011

relevant funds (in the case of payment institutions)

see regulation 23(1) and (2) of the PSR 2017

relevant funds account

account which an institution maintains in order to safeguard relevant funds

relevant funds claim

claim, of a user or holder, for the return of relevant funds

reverse transfer

has the meaning given in regulation 30(1)(a)

safeguard (in the case of electronic money institutions)

(a) in the case of relevant funds received for the execution of payment transactions which are not related to the issuance of electronic money, has the same meaning as in the PSR 2017 (see regulation 23 of those Regulations), or

(b) in any other case, has the same meaning as in the EMR 2011 (see regulations 20 to 22 of those Regulations)

safeguard (in the case of payment institutions)

has the same meaning as in the PSR 2017 (see regulation 23 of those Regulations)

Schedule B1

F4(a) in relation to special administrations in England and Wales, or Scotland, means Schedule B1 to the IA 1986;

(b) in relation to special administrations in Northern Ireland, means Schedule B1 to the I(NI)O 1989.

Schedule B1 administration

the administration procedure set out in Schedule B1

Schedule B1 administration order

administration order made under Schedule B1 (see paragraph 10 of F4Schedule B1 to the IA 1986 and paragraph 11 of Schedule B1 to the I(NI)O 1989)

Schedule B1 administrator

administrator appointed under Schedule B1

small electronic money institution

see regulation 2(1) of the EMR 2017

small payment institution

see regulation 2(1) of the PSR 2017

special administration (except in the expression investment bank special administration)

payment institution special administration or electronic money institution special administration (see regulation 4(3))

special administration objectives

Objective 1, Objective 2 and Objective 3

special administration order

has the meaning given in regulation 7

statement of proposals

statement of proposals drawn up by the administrator in accordance with—

(a) paragraph 49 of Schedule B1 F2to the IA 1986 or paragraph 50 of Schedule B1 to the I(NI)O 1989 as applied and modified by these Regulations, or

(b) where the FCA has given a direction, regulation 39

TA

has the meaning given in regulation 24(2)

transferee

has the meaning given in regulation 24(2)

user

payment service user (see regulation 2(1) of the PSR 2017)

voluntarily safeguard (in the case of small electronic money institutions)

voluntarily safeguard pursuant to regulation 20(6) of the EMR 2011 and regulation 23(16) of the PSR 2017

voluntarily safeguard (in the case of small payment institutions)

voluntarily safeguard pursuant to regulation 23(16) of the PSR 2017