GENE 4.1.7 Notice of certain insolvency-related events
(1) If an authorised firm becomes aware of an event to which this rule applies, the firm must tell the Regulatory Authority about the event immediately, but within 1 business day.
See examples to rule 4.1.3(1) on the meaning of "within 1 business day".
(2) This rule applies to the following events:
(A) the calling of a meeting to consider a resolution for winding up the authorised firm;
(B) an application to dissolve the authorised firm or to strike it from the register, maintained by the
CRO, or a comparable register in another jurisdiction;
(C) the presentation of a petition for the winding up of the authorised firm;
(D) the making of, or any proposals for the making of, a composition or arrangement with creditors of the authorised firm;
(E) the application of any person for the commencement of any insolvency proceedings, appointment of any receiver, administrator or provisional liquidator under the law of any country.
|Editorial changes (as from 1st January 2016).|