(1) A former authorised investment firm that is not the subject of any termination process continues to be responsible for arranging the discharge of all liabilities, duties and obligations of the firm existing immediately before announcement of the withdrawal or revocation of the firm's authorisation, unless the Bank states otherwise.
(2) Without limiting the generality of paragraph (1), a former authorised investment firm, whether or not the subject of any termination process, continues to be subject to -
(a) the obligations that were imposed on the firm by these Regulations, in the firm's previous capacity as an authorised investment firm, and
(b) any codes of conduct, rules of conduct, client money requirements and other conditions and requirements that were imposed on the firm by the Bank under these Regulations, in the firms previous capacity as an authorised investment firm.
until all the obligations of the firm have been discharged to the satisfaction of the Bank, to the e