Under section 63E(7) of the Act (to the extent that it continues in force under the standstill direction),5 this chapter does not apply to an arrangement which allows an employee to perform a function if the question of whether the employee is fit and proper to perform the function is reserved under certain European legislation5 to an authority in a country or territory outside the United Kingdom. The standstill direction means the standstill direction as defined in the direction made by the FCA under Part 7 of the Financial Services and Markets Act 2000 (Amendment) (EU Exit) Regulations 2019 that came into force on IP completion day4 and is titled “FCA Transitional Direction”.51
an insolvency practitioner under section 388 of the Insolvency Act 1986;
a nominee in relation to a voluntary arrangement under Part I (Company Voluntary Arrangements) of the Insolvency Act 1986;
an insolvency practitioner under article 3 of the Insolvency (Northern Ireland) Order 1989; or
a nominee in relation to a voluntary arrangement under Part II (Company Voluntary Arrangements) of the Insolvency (Northern Ireland) Order 1989.