The compensation scheme may make provision—
Such a right of recovery conferred by the scheme does not, in the event of a person's insolvency, exceed such right (if any) as the claimant would have had in that event.
The compensation scheme may also make provision in relation to a relevant person, or to a successor of a description falling within section 213(1)(b), who enters into or carries out funeral plan contracts and is unable, or likely to be unable, to satisfy claims made against them—
The amount required to be paid to the scheme manager under such a right of recovery conferred by the scheme may not exceed the amount paid or (in the opinion of the scheme manager) to be paid out by the scheme manager in connection with those funeral plan contracts.
For the purposes of subsection (2ZA)(a), the provision that may be made includes—
Any payment made by the scheme manager under section 214B(2) in connection with the exercise of a stabilisation power in respect of a bank, building society or credit union is to be treated as a debt due to the scheme manager from that bank, building society or (as the case may be) credit union.
In subsection (2A)—
"bank" has the meaning given in section 2 of the Banking Act 2009;
"building society" has the meaning given in the Building Societies Act 1986;
"credit union" means a credit union within the meaning of—the Credit Unions Act 1979; orarticle 2 of the Credit Unions (Northern Ireland) Order 1985.
If a person other than the scheme manager makes an administration application under Schedule B1 to the 1986 Act or Schedule B1 to the 1989 Order in relation to —
the scheme manager has the same rights as are conferred on the regulators by section 362.
In subsection (3) the reference to making an administration application includes a reference to—
If a person other than the scheme manager presents a petition for the winding up of a body which is a relevant person or relevant exchange , the scheme manager has the same rights as are conferred on the regulators by section 371.
If a person other than the scheme manager presents a bankruptcy petition to the court in relation to an individual who, or an entity which, is a relevant person, the scheme manager has the same rights as are conferred on the regulators by section 374.
Insolvency rules may be made for the purpose of integrating any procedure for which provision is made as a result of subsection (1) into the general procedure on the administration of a company or partnership or on a winding-up, bankruptcy or sequestration.
"Bankruptcy petition" means a petition to the court—
"Insolvency rules" are—
... "the 1986 Act", "the 1989 Order" , "the 2016 Act" and "court" have the same meaning as in Part XXIV.