SCHEDULE 7 Financial Market Infrastructure Transfer Schemes
Financial Services (Banking Reform) Act 2013 (2013 c 33) | Legislation

SCHEDULE 7 Financial Market Infrastructure Transfer Schemes

Section 121

Application of Schedule

1

This Schedule applies where—

(a)     the court has made an FMI administration order in relation to a company (“the old companyâ€), and

(b)     it is proposed that a transfer within section 115(5) be made to another company (“the new companyâ€).

Interpretation of Schedule

2

In this Schedule—

“FMI transfer scheme†has the meaning given by paragraph 4(1);

“the new company†and “the old company†are to be read in accordance with paragraph 1;

“third partyâ€, in relation to an FMI transfer scheme or a modification of such a scheme, means a person other than the old company or the new company.

FMI administrator to act on behalf of old company

3

It is for the FMI administrator, while the FMI administration order is in force, to act on behalf of the old company in the doing of anything that it is authorised or required to do by or under this Schedule.

Making of FMI transfer schemes

4

(1)     The old company may—

(a)     with the consent of the new company, and

(b)     for the purpose of giving

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