(1) This section makes provision about a requirement imposed on a non-authorised parent undertaking of an FCA investment firm ("N") under section 143K -
(a) prohibiting the disposal of, or other dealing with, any of N's assets (whether in the United Kingdom or elsewhere) or restricting such disposals or dealings, or
(b) requiring that some or all of N's assets, or some or all assets belonging to consumers (as defined in section 1G) but held by N or to N's order, must be transferred to and held by a trustee approved by the FCA.
(a) imposes a requirement described in subsection (1)(a), and
(b) gives notice of the requirement to an institution with whom N keeps an account,
the notice has the effects set out in subsection (3).
(3) Those effects are that -
(a) the institution does not act in breach of a contract with N if, having been instructed by N (or on N's behalf) to transfer a sum or otherwise make a payment out of N's account, it refuses to do so in the reasonably he
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