Section 71D(1)

The condition in this subsection is met in relation to a relevant firm or a parent undertaking if— there is a deterioration in the financial situation of the relevant firm or the parent undertaking which is a significant deterioration, or there is a serious infringement by the relevant firm or the parent undertaking of— a relevant requirement, or its memorandum or articles of association or other constituent instrument.

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