Section 2J(3)

For the purposes of this Chapter, the cases in which an authorised person (“P”) is to be regarded as failing include those where— P enters insolvency, any of the stabilisation options in Part 1 of the Banking Act 2009 is achieved in relation to P, or P falls to be taken for the purposes of the compensation scheme to be unable, or likely to be unable, to satisfy claims against P.

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Source: legislation.gov.uk · retrieved 2026-09-04