In forceUpdated to 30 Jun 2025

Contents

Financial Services and Markets Act 2022 · Updated to 30 Jun 2025 · Part 8 · Resolution of Financial Institutions

88. Directions for disposal

(1)

If the Minister is satisfied that any person has failed to comply with a condition imposed on the person in section 87(2) or (3), or if the Minister has served a notice on the person in section 87(5), the Minister may, by written notice —

(a)

direct the transfer or disposal of all or any of the shares in the Division 6 FI or resulting FI held by the person within such time and in such manner as the Minister considers appropriate;

(b)

restrict the transfer or disposal of those shares; or

(c)

make such other direction as the Minister considers appropriate.

(2)

Any person to whom a notice is given under subsection (1) must comply with each direction specified in the notice.

Report

Read on from s 89

Part 9