HD Administrators LLP

Limits on the record

• Cease to accept all new regulated business.

  Application for a variation of Part 1V permission received dated 2 March 2012 for HD Administrators LPP (HD). 1. This schedule sets out the terms of a requirement to be imposed on HD to take immediate effect. Variation of permission 2. The variation of Part 1V permission being requested is the addition of a requirement such that HD will cease to accept all new regulated business for which it has Part 1V permission from new and/or existing customers with immediate effect.

• Hold and control client money.

  Permitted to hold and control client money and assets only in respect of the personal pension scheme(s) that the firm operates.

• Liquidator able to access Yorkshire bank account

  The liquidator of HD Administrators LLP will be able to access the Yorkshire Bank account, called HD Administrators LLP, under account number 29540021 with immediate effect

• Court orders to Joyston 4 account to be effected

  Any order made by the court (on an application made by the Official Receiver) in relation to the Joyston 4 bank account held at Yorkshire Bank under account number 66705297 is able to be effected without further application to the FSA to vary the permissions of HD Administrators LLP

• No regulated Business

  The FSA has decided to vary with effect from 22 March 2012, the permission granted to HD Administrators LLP (HDA) pursuant to Part IV of the Act (HDA's Part IV permission) by imposing a requirement that HDA may not carry on any of the regulated activities in HDA's Part IV permission.

• No disposal of or dealings with assets

  The FSA has decided to vary with effect from 22 March 2012, the permission granted to HD Administrators LLP (HDA) pursuant to Part IV of the Act (HDA's Part IV permission) by (2) imposing a requirement, pursuant to section 43 and 48 of the Act, prohibiting HDA from releasing, disposing of or otherwise dealing with any of its assets so long as the requirement is in force.

• No release of pension scheme fund assets

  The FSA has decided to vary with effect from 22 March 2012 the permission granted to HD Administrators LLP (HDA) pursuant to Part IV of the Act (HDA's Part IV permission) by imposing a requirement on HDA's Part IV permission that pursuant to section 43(2) and section 43(4) of the Act HDA shall, through its officers and staff (whether acting on behalf of HDA or on behalf of any other entity), procure that assets held in accounts of HDA's wholly owned subsidiary, HD Trustees Limited, comprising pension scheme fund assets (HD Scheme Funds) at any institution may not, so long as the requirement is in force, be released.

• Liquidator able to access Yorkshire bank account

  SCHEDULE 1. The Part IV Permission of HDA was varied on the Financial Services Authority's own initiative on 22 March 2012 (the OIVOP”). The effect of the OIVOP was to impose requirements on HDA'S Part IV permission that: a. HDA may not carry on any of the regulated activities in its Part IV permission; b. HDA may not release, dispose of otherwise deal with any of its assets so long as the requirement is in force; and c. HDA shall, through its officers and staff (whether acting on behalf of HDA or on behalf of any other entity), procure that assets held in accounts of HDA'S wholly owned subsidiary, HD Trustees Limited, comprising pension scheme find assets at any institution may not, so long as the requirement is in force, be released. 2. An account is held with The Yorkshire bank with the description of 'HD Admin LLP Re Joyston AA No 4', under their reference of 66705297. 3. The treatment of the money being held in that accountant is currently subject to a court application. A Directions Order dated 30 August 2013 states that certain fees are to be paid from that money during the proceedings. 4. As liquidator of HDA, I now apply for the requirements imposed by the OIVOP to be varied so that I can gain access to the Yorkshire Bank account described in paragraph 2, and carry out the directions of the Court. 5. The money will be held by me in account segregated from the liquidation pending the directions of court as to the treatment of the balance of money, at which point I will carry out those directions without further reference to the FCA. 6. I request that the variation of HDA's Part IV permission takes immediate effect. Variation of permission 7. The effect of the variation of Part IV permission being requested is that the liquidator of HD Administrators LLP will be able to access the account described in paragraph 2 with immediate effect.