115 Objective of FMI administration
Financial Services (Banking Reform) Act 2013 (2013 c 33) | Legislation

115  Objective of FMI administration

(1)     Where an FMI administrator is appointed in relation to the operator of a recognised . . . payment system[, or a recognised DSA service provider,] . . ., the objective of the FMI administration is—

(a)     to ensure that the system [or provider] is and continues to be maintained and operated as an efficient and effective system,

(b)     . . . and

(c)     to ensure by one or both of the specified means that it becomes unnecessary for the FMI administration order to remain in force for that purpose . . ..

[(1A)     Where an FMI administrator is appointed in relation to a recognised CSD. . ., the objective of the FMI administration is—

(a)     to ensure that the system is and continues to be maintained and operated as an efficient and effective system,

(b)     to ensure that the protected activities continue to be carried on, and

(c)     to ensure by

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