Schedule 1, Part 2 Modifications to secondary legislation
Interpretation
1. In this Schedule, a reference to backing assets is a reference to the backing assets of an authorised bank, other than backing assets that have been returned to the bank or an appointed insolvency practitioner under regulation 11(2)(b) or 23(3)(b).
Modifications to the Insolvency (Scotland) Rules 1986
5. The provisions of the Insolvency (Scotland) Rules 1986 [S.I. 1986/1915.] apply in relation to an authorised bank with any reference to "asset", "property", "estate", "sum" or "fund" modified so that it does not include a reference to the backing assets.
Modifications to the Insolvency Rules (Northern Ireland) 1991