SCHEDULES
F1SCHEDULE 17A Further provision in relation to exercise of Part 18 functions by Bank of England
Part 3Winding up, administration or insolvency of F2recognised clearing houses
Words in Sch. 17A Pt. III heading substituted (1.4.2013) by The Financial Services and Markets Act 2000 (Over the Counter Derivatives, Central Counterparties and Trade Repositories) Regulations 2013 (S.I. 2013/504), regs. 1(2), 3(16)(e) (with regs. 52-58)
Notice to Bank of England of preliminary steps
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2
3
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Condition 1 is that the Bank of England has been notified—
a
by the applicant for an administration order, that the application has been made,
b
by the petitioner for a winding up order, that the petition has been presented,
c
d
by the person proposing to appoint an administrator, of the proposed appointment.
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Condition 2 is that a copy of the notice complying with Condition 1 has been filed (in Scotland, lodged) with the court (and made available for public inspection by the court).
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Condition 3 is that—
a
the period of 2 weeks, beginning with the day on which the notice is received, has ended, or
b
the Bank of England has informed the person who gave the notice that—
i
it has no objection to the order, resolution or appointment being made, and
ii
it does not intend to exercise a stabilisation power under F7Schedule 11 to the Financial Services and Markets Act 2023.
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In this paragraph “the court” means—
a
in England and Wales, the High Court,
b
in Scotland, the Court of Session, and
c
in Northern Ireland, the High Court.
Sch. 17A inserted (24.1.2013 for specified purposes, 1.4.2013 in so far as not already in force) by Financial Services Act 2012 (c. 21), ss. 29(2), 122(3), Sch. 7 (with Sch. 20); S.I. 2013/113, art. 2(1)(b)(c), Sch. Pts. 2, 3; S.I. 2013/423, art. 3, Sch.