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84V. Application of Insolvency Law

(1) To the extent that this Part, including any Rule made or requirement issued under this Part, is inconsistent with the Insolvency Law, the provision of this Part or the Rule or requirement under this Part shall prevail.
(2) If the DFSA has determined that the Resolution Conditions have been met in relation to an Authorised Firm, a person may not commence insolvency proceedings under the Insolvency Law in respect of the Authorised Firm except with the DFSA’s consent.
(3) The DFSA may apply to the Court under Article 93 of this Law for the winding up of an Authorised Firm or commence insolvency proceedings under the Insolvency Law in respect of the Authorised Firm notwithstanding that it has determined that the Resolution Conditions have been met or has taken resolution action under this Part in respect of the Authorised Firm.
(4) The DFSA may take resolution action under this Part in relation to an Authorised Firm even if insolvency proceedings have already commenced in relation to the Authorised Firm.