Regulation 27

2. Where this Part of this Schedule applies, the enactments set out below apply with the modifications indicated.

Financial Services and Markets Act 2000

3.

(1) The following provisions of the Financial Services and Markets Act 2000 apply with the modifications set out in this paragraph.

(2) In section 215 [Section 215(3) was amended by the Enterprise Act 2002 (c. 40), section 248(3), Schedule 17, paragraphs 53, 54(1), (2) and by S.I. 2005/1455.] (rights of the scheme in insolvency) -

(a) in subsection (3), the reference to making an administration application is to be read as including making an application for a special administration order; and

(b) subsection (4) is to be read as if it provided the following -

"(4) In the case of a special administration (bank insolvency), if the scheme manager decides, pursuant to section 101 of the Banking Act 2009, as applied by paragraph 6(2) of Schedule 1 to the Investment Bank Special Administration Regulations 2011, not to be a member of the creditors' committee, the scheme manager has the same rights as are conferred on the regulators by section 371.".