80.— (1) The liquidator of F27[a designated credit institution] has 2 objectives, as follows:

(a) Objective 1—

(i) to facilitate the Bank in ensuring that each eligible depositor receives the prescribed amount payable under F28[Regulation 11(1) of the Regulations of 2015 from the Fund or, where appropriate, the legacy fund,] or

(ii) to facilitate the Bank in transferring that amount from the F28[Fund or, where appropriate, the legacy fund] to another authorised credit institution or to a F27[recognised credit institution] approved by the Bank, to hold that amount on behalf of each such eligible depositor;

(b) Objective 2, to wind up the affairs of the authorised credit institution so as to achieve the best results for that F27[recognised credit institution]’s creditors as a whole.

(2) In the event of a conflict between Objective 1 and Objective 2, Objective 1 takes precedence.

(3) The liquidator of F27[a designated credit institution] shall begin working towards both objectives immediately upon his or her appointment. The liquidator and the Bank shall cooperate in the pursuit of those objectives.

(4) The duties of a liquidator under this Part are in addition to the other duties of a liquidator.

(5) The liquidator of F27[a designated credit institution]—

(a) shall comply with a request of the Bank for information in relation to the liquidation, and

(b) may provide the Bank with any other information that the liquidator thinks might be useful for the purpose of co-operating in the pursuit of Objective 1.