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Version status: In force | Document consolidation status: Updated to reflect all known changes
Version date: 20 November 2015 - onwards
Version 2 of 2

Regulation 16 Powers of the designated authority

(1) The designated authority may take such action, or direct a person to whom these Regulations apply to take such action, as it considers necessary to ensure compliance with these Regulations.

(2) Without limiting the generality of paragraph (1), the designated authority may -

(a) engage the services of any person to assist in the administration of repayments after the decision date, or

(b) enter into any agreement with any person for the provision of services to the designated authority to assist it in carrying out the functions under these Regulations.

(3) The designated authority may direct, in writing, a liquidator appointed to a credit institution to do all or any of the following:

(a) provide specified information to the designated authority within a specified period;

(b) make payments to any person maintaining an eligible deposit in the manner that the designated authority directs;

(c) cooperate with officers or agents of the designated authority;