Schedule 8, Part 2, paragraph 5(16)

In regulation 24 (insolvency events)— in paragraph (1)(b) after “21(2)(a) or (b)” insert “ or (4A), ”; in paragraph (4), in the definition of “asset pool”, after paragraph (b) insert— where regulation 21(4A) applies, any funds that are received into the account held at the Bank of England upon settlement in respect of transfer orders that have been entered into the designated system on behalf of electronic money holders, whether settlement occurs before or after the insolvency event; after paragraph (4) insert— In paragraph (4) “designated system”, “settlement” and “transfer order” have the same meanings as in the Financial Markets and Insolvency (Settlement Finality) Regulations 1999.

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