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Version status: In force | Document consolidation status: Updated to reflect all known changes
Version date: 15 July 2015 - onwards
  Version 2 of 2    

Regulation 150 Restrictions on remedies.

(1) Where any person applies, by way of appeal, judicial review or otherwise, for a stay or temporary injunction preventing the implementation of a resolution order, there shall be a rebuttable presumption against such a stay or injunction being granted and the Court shall not grant any such stay or injunction other than where -

(a) the application is made on notice to the resolution authority and is heard inter partes, and

(b) the applicant establishes that it is likely to succeed in its substantive action or appeal.

(2) Where -

(a) a court decides, upon an appeal, judicial review or otherwise, to set aside a resolution order, and

(b) the invalidation of administrative acts or transactions concluded by the resolution authority subsequent to the resolution order would prejudice the interests of third parties who have acquired in good faith shares, other instruments of ownership, assets, rights or liabilities of an institution under resolution by virtue of the use of resolution tools or

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