The Payment and Electronic Money Institution Insolvency (England and Wales) (Amendment) Rules 2022

These Rules amend the Payment and Electronic Money Institution Insolvency (England and Wales) Rules 2021, S.I. 2021/1178 (“the 2021 Rules”). The 2021 Rules set out the procedure for the payment institution special administration process and the electronic money institution special administration process under the Payment and Electronic Money Institution Insolvency Regulations 2021, S.I. 2021/716 (“the 2021 Regulations”). The amendments made by these Rules include amendments that respond to the Joint Committee on Statutory Instruments’ Twenty-first Report of Session 2021-22 which reported the 2021 Rules for defective drafting.