The Payment and Electronic Money Institution Insolvency (England and Wales) Rules 2021

Notification and advertisement of appointment of replacement administrator

This section has no associated Explanatory Memorandum

178.—(1) Subject to rule 180, where a replacement administrator is appointed, the same provisions apply in respect of giving notice of, and advertising, the replacement appointment as in the case of the initial appointment.

(2) All statements, consents and notices as are required for the initial appointment are also required in the case of the appointment of a replacement administrator.

(3) All notices must clearly identify that the appointment is of a replacement administrator.