[71D Sections 71B and 71C: conditions]
Financial Services and Markets Act 2000 (2000 c 8) | Legislation

[71D  Sections 71B and 71C: conditions]

[(1)     The condition in this subsection is met in relation to a relevant firm or a parent undertaking if—

(a)     there is a deterioration in the financial situation of the relevant firm or the parent undertaking which is a significant deterioration, or

(b)     there is a serious infringement by the relevant firm or the parent undertaking of—

(i)     a relevant requirement, or

(ii)     its memorandum or articles of association or other constituent instrument.

(2)     The condition in this subsection is met in relation to a relevant firm if it is not reasonably likely that the deterioration would be reversed or the infringement would be brought to an end by [any

Powered by Lexis+®
 

Popular documents

LEXISNEXIS

Direct discrimination

Direct discriminationIP COMPLETION DAY: 11pm (GMT) on 31 December 2020 marks the end of the Brexit transition/implementation period entered into following the UK’s withdrawal from the EU. At this point in time (referred to in UK law as ‘IP completion day’), key transitional arrangements come to an

LEXISNEXIS

Violent disorder

Violent disorderThe offence of violent disorderViolent disorder can be tried in the magistrates' court or the Crown Court. These offences will normally be dealt with in the Crown Court. However, there may be cases involving minor violence or threats of violence leading to no or minor injury, with

LEXISNEXIS

Mistake in contract law

Mistake in contract lawThis Practice Note considers the legal concept of mistake in contract law. It examines common mistake, mutual mistake, unilateral mistake, mistake as to identity and mistake as to the document signed (non est factum). It also considers the impact of each of these types of

LEXISNEXIS

PRA Rulebook—introduction for the insurance and reinsurance sector

PRA Rulebook—introduction for the insurance and reinsurance sectorOn 29 August 2015, the Prudential Regulation Authority (PRA) published the PRA Rulebook (Rulebook). The transition from the Handbook to the Rulebook was intended to benefit PRA-authorised firms, to access clearer and more concise