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

Further provision on special administration: Schedules 1 and 2

20.—(1) In regulation 47—

(a) in paragraph (1), after “and Wales” insert “or the law of Scotland”;

(b) after paragraph (1) insert—

“(1A) Schedule 1A makes further provision about how special administration applies to limited liability partnerships formed under the law of Northern Ireland.”;

(c) after paragraph (2), insert—

“(2A) Schedule 2A makes further provision about how special administration applies to partnerships formed under the law of Northern Ireland.”.

(2) In Schedule 1—

(a) in the heading, after “English/Welsh” insert “/Scottish”;

(b) in paragraph 1, after Wales, insert “or Scotland”;

(c) for paragraph 2, substitute—

“2.   In this Schedule—

(a) the “LLPR 2001” means the Limited Liability Partnerships Regulations 2001(1);

(b) the “LLP(S)R 2001” means the Limited Liability Partnerships (Scotland) Regulations 2001(2).”;

(d) in the Table following paragraph 3—

(i) in the first line, after “LLPR 2001” insert “in relation to limited liability partnerships established under the law of England and Wales”;

(ii) after the first line, insert—

“Those mentioned in regulation 4(2) of the LLP(S)R 2001, in relation to limited liability partnerships established under the law of Scotland

Those set out in regulation 4(2) of the LLP (Scotland) Regulations (except regulation 4(2)(e) of those Regulations).”.

(3) After Schedule 1, insert Schedule 1A, as set out in Schedule 1 to these Regulations.

(4) In Table 2 after paragraph 6 of Schedule 2, in column 3 of the entry for paragraph 84 (version in Schedule 2, paragraph 28), in paragraph (b), for “sub-paragraph (5)” substitute “sub-paragraph (4)”.

(5) After Schedule 2, insert Schedule 2A, as set out in Schedule 2 to these Regulations.

(1)

S.I. 2001/1090, amended by S.I. 2009/1941. There are other amending instruments, but none is relevant.

(2)

S.I. 2001/128, amended by S.S.I. 2009/310. There are other amending instruments, but none is relevant.