167 Application to determine whether default proceedings to be taken
Companies Act 1989 (1989 c 40) | Legislation

167  Application to determine whether default proceedings to be taken

[(1)     This section applies where a relevant insolvency event has occurred in the case of—

(a)     a recognised investment exchange or a member or designated non-member of a recognised investment exchange, . . .

(b)     a recognised clearing house or a member of a recognised clearing house[, . . .

[(ba)     a recognised CSD or a member of a recognised CSD, or]

(c)     a client which is providing indirect clearing services to an indirect client].

[The person referred to in paragraphs (a) to (c)] in whose case a relevant insolvency event has occurred is referred to below as “the person in default”.

(1A)     For the purposes of this section a “relevant insolvency event” occurs where—

(a)     a bankruptcy order is made,

(b)     an award of sequestration

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