Regulation 24

1. In this Schedule, "the 2001 Regulations" means the Limited Liability Partnerships Regulations 2001 [S.I. 2001/1090.].

2. These Regulations apply where the investment bank is a limited liability partnership subject to the following modifications.

3.

(1) Those provisions of the Insolvency Act, as applied and modified by regulation 15 of these Regulations, shall apply in respect of an investment bank formed as a limited liability partnership subject to sub-paragraph (2).

(2) Those provisions of the Insolvency Act set out in the Table in sub-paragraph (3) shall also apply with the modifications set out in sub-paragraph (3).

(3) The modifications are -

(a) those contained in regulation 5(2) of the 2001 Regulations (not including those in regulation 5(2)(f)); and

(b) any other modification set out in the Table.

Table: Applied provisions of the Insolvency Act (General provisions and Schedule B1)