1. UK Financial Services Law
  2. Legislation (UK)
  3. Acts
  4. 2000
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  1. Financial Services and Markets Act 2000 (c. 8) (FSMA)
  2. Schedule 17A Further provision in relation to exercise of Part 18 functions, or other FMI functions, by Bank of England
  3. Schedule 17A, Part 3 Winding up, Administration or Insolvency of recognised clearing houses (paras. 34-35)
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Version status: In force | Document consolidation status: Updated to reflect all known changes
Version date: 31 December 2023 - onwards
  Version 5 of 5    

Schedule 17A, Part 3 Winding up, Administration or Insolvency of recognised clearing houses (paras. 34-35)

Section 285A

Notice to Bank of England of preliminary steps

34

(1) An application for an administration order in respect of a recognised clearing house or a recognised CSD may not be determined unless the conditions below are satisfied.

(2) A petition for a winding up order in respect of a recognised clearing house or a recognised CSD may not be determined unless the conditions below are satisfied.

(3) A resolution for voluntary winding up of a recognised clearing house or a recognised CSD may not be made unless the conditions below are satisfied.

(4) An administrator of a recognised clearing house or a recognised CSD may not be appointed unless the conditions below are satisfied.

(5) 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) by the recognised clearing house or the recognised CSD, that a resolutio

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