(1) The administrator has three special administration objectives ("the special administration objectives") -

(a) Objective 1 is to ensure the return of client assets as soon as is reasonably practicable;

(b) Objective 2 is to ensure timely engagement with market infrastructure bodies and the Authorities pursuant to regulation 13; and

(c) Objective 3 is to either -

(i) rescue the investment bank as a going concern, or

(ii) wind it up in the best interests of the creditors.

(2) In relation to sub-paragraph (1)(a), the administrator is entitled to deal with and return client assets in whatever order the administrator thinks best achieves Objective 1.

(3) The order in which the special administration objectives are listed in this regulation is not significant: subject to regulation 16, the administrator must -