[Part 3 Winding Up, Administration or Insolvency of [Recognised Clearing Houses]]
[Part 3 Winding Up, Administration or Insolvency of [Recognised Clearing Houses]]

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(1)     An application for an administration order in respect of a [recognised clearing house] [or a recognised CSD] may not be determined unless the conditions below are satisfied.

(2)     A petition for a winding up order in respect of a [recognised clearing house] [or a recognised CSD] may not be determined unless the conditions below are satisfied.

(3)     A resolution for voluntary winding up of a [recognised clearing house] [or a recognised CSD] may not be made unless the conditions below are satisfied.

(4)     An administrator of a [recognised clearing house] [or a recognised CSD] may not be appointed unless the conditions below are satisfied.

(5)     Condition 1 is that the Bank of England has been notified—

(a)     by the applicant for an administration order, that the application has been made,

(b)     by the petitioner for a winding up order, that the petition has been presented,

(c)     by the [recognised cle

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