296Matters Bank must be satisfied of when extending stay

1. The matters referred to in section 295(2)(b) are that—

2. A is able to meet all of the following liabilities as and when those liabilities become due and payable:
   1. A’s liabilities under all netting agreements to which sections 310A to 310O of the Companies Act 1993 apply:
   2. A’s liabilities in respect of security interests over collateral to the extent that the security interests secure payment or performance of obligations under or in relation to derivatives:
   3. A’s liabilities that are subject to netting under the rules of a designated FMI; and
3. A is able to pay its debts as they become due in the normal course of business; and
4. either—
   1. A complies with the minimum capital requirements (if any) to which it is subject under an applicable standard; or
   2. there are satisfactory arrangements in place to ensure that A meets all of its liabilities referred to in paragraph (a) as and when those liabilities become due and payable and those arrangements will remain in place until A complies with the requirements referred to in subparagraph (i) or the resolution ends, whichever occurs first.