Northern Ireland Statutory Rule SI 2009/122 United Kingdom

The Bank Insolvency (No. 2) Rules (Northern Ireland) 2009

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Status
In Force
Penalty ceiling
Regulated

Does it bind you?

Business-side roles with duties under this instrument.

Director or Officer11

Plus 4 duties on the regulator, Crown ministers and public bodies — folded into the section list below.

Other Acts binding the same actors

If a role above is yours, these are the other instruments that most often bind it.

Director or Officer — also bound by 429 other Acts
Companies Act 2006 126 duties

What it requires

Regulations creating concrete business duties or carrying penalties, grouped as the instrument is structured. Titles link to the source text — blue means you’re leaving for legislation.gov.uk.

s.art016 Making, transmission and advertisement of order Regulated
  • Serve and advertise the bank insolvency orderDirector or Officer
s.art022 Order of appointment Regulated
  • Provisional bank liquidator must serve appointment order on the bankDirector or Officer
s.art034 Report by bank liquidator Regulated
  • Publish a report on bank insolvency within 8 weeksDirector or Officer
s.art040 First meeting Regulated
  • Summon and notify first meetings of creditors and contributoriesDirector or Officer
s.art042 General power to call meetings Regulated
  • Bank liquidator must notify Bank of England and FSA of removal meetingDirector or Officer
s.art043 The chair at meetings Regulated
  • Ensure meetings are chaired by a qualified personDirector or Officer
s.art045 Requisitioned meetings reforming the liquidation committee Regulated
  • Bank liquidator must call creditor meeting to re-form liquidation committee if 10% of creditors demand itDirector or Officer
s.art086 Appointment to be advertised and registered Regulated
  • Advertise your appointment as bank liquidator and notify Companies HouseDirector or Officer
s.art088 Action following acceptance of resignation Regulated
  • Bank liquidator must file resignation notice and notify regulatorsDirector or Officer
s.art096 Final meeting Regulated
  • Conduct final meeting and reporting in bank insolvencyDirector or Officer
s.art106 Replacement Bank liquidator Regulated
Other duties (1) — Crown / regulator
  • Bank of England must appoint a new bank liquidator when the current one vacates officeCrown / Minister / Government department
s.art109 Resignation of the bank liquidator Regulated
Other duties (1) — Crown / regulator
  • Bank of England must respond to liquidator's resignation request within 21 daysStatutory regulator
s.art137 General qualification on powers Regulated
Other duties (1) — Crown / regulator
  • Bank liquidator must exercise powers consistently with Objective 1 before full payment resolutionStatutory regulator
s.art154 Primacy of Objective 1 Regulated
Other duties (1) — Crown / regulator
  • Postpone other duties when they would undermine Objective 1Crown / Minister / Government department
s.art275 Right to have list of creditors Regulated
  • Bank liquidator must provide list of creditors on requestDirector or Officer
273 other provisions — procedural and definitional
s.art001 Citation, commencement and revocation
s.art002 Extent
s.art003 Application of rules, construction and interpretation
s.art004 Overview
s.art005 Forms
s.art006 Time
s.art007 Filing of application
s.art008 Service of application
s.art009 Proof of service
s.art010 Other persons to receive copy of application
s.art011 Verification of application
s.art012 Persons entitled to copy of application
s.art013 Certificate of compliance
s.art014 Leave for the applicant to withdraw
s.art015 Witness Statement in opposition
s.art017 Authentication of bank liquidator’s appointment
s.art018 Initial duties of bank liquidation committee
s.art019 Expenses of voluntary arrangement
s.art020 Appointment of provisional bank liquidator
s.art021 Notice of appointment
s.art023 Security
s.art024 Failure to give or keep up security
s.art025 Remuneration
s.art026 Termination of appointment
s.art027 Notice requiring statement of affairs
s.art028 Verification and filing
s.art029 Limited disclosure
s.art030 Release from duty to submit statement of affairs; extension of time
s.art031 Expenses of statement of affairs
s.art032 Submission of accounts
s.art033 Further disclosure
s.art035 Meaning of “creditors”
s.art036 Report where statement of affairs lodged
s.art037 Statement of affairs dispensed with
s.art038 General rule as to reporting
s.art039 Bank insolvency stayed
s.art041 Business at first meetings of creditors and contributories
s.art044 Requisitioned meetings general
s.art046 Attendance at meetings of bank’s personnel
s.art047 Notice of meetings by advertisement only
s.art048 Venue
s.art049 Expenses of summoning meetings
s.art050 Resolutions
s.art051 Chairman of meeting as proxy-holder
s.art052 Suspension and adjournment
s.art053 Entitlement to vote (creditors)
s.art054 Entitlement to vote (contributories)
s.art055 Admission and rejection of proof (creditors’ meetings)
s.art056 Record of proceedings
s.art057 Meaning of “prove”
s.art058 Supply of forms
s.art059 Contents of proof
s.art060 Claim established by affidavit
s.art061 Cost of proving
s.art062 Bank Liquidator to allow inspection of proofs
s.art063 New bank liquidator appointed
s.art064 Admission and rejection of proofs for dividend
s.art065 Appeal against decision on proof
s.art066 Withdrawal or variation of proof
s.art067 Expunging of proof by the court
s.art068 Estimate of quantum
s.art069 Negotiable instruments, etc.
s.art070 Secured creditors
s.art071 Discounts
s.art072 Mutual credits and set-off
s.art073 Disapplication of set off for eligible depositors
s.art074 Debt in foreign Currency
s.art075 Payments of a periodical nature
s.art076 Interest
s.art077 Debt payable at future time
s.art078 Value of security
s.art079 Surrender for non-disclosure
s.art080 Redemption by liquidator
s.art081 Test of security’s value
s.art082 Realisation of security by creditor
s.art083 Remuneration of bank liquidator
s.art084 Replacement of bank liquidator by creditors
s.art085 Authentication of bank liquidator’s appointment
s.art087 Creditors’ meeting to be notified of bank liquidator’s resignation
s.art089 Advertisement of resignation
s.art090 Meeting of creditors to remove bank liquidator
s.art091 Court’s power to regulate meetings under rule 90
s.art092 Procedure on removal
s.art093 Advertisement of removal
s.art094 Removal of bank liquidator by the court
s.art095 Release of resigning or removed bank liquidator
s.art097 Rule as to reporting
s.art098 Fixing of remuneration
s.art099 Bank liquidator’s entitlement to remuneration where it is not fixed under rule 98
s.art100 Bank liquidator’s remuneration where he realises assets on behalf of chargeholder
s.art101 Other matters affecting remuneration
s.art102 Recourse of bank liquidator to meeting of creditors
s.art103 Recourse to the court
s.art104 Creditors’ claim that remuneration is excessive
s.art105 Primacy of Objective 1
s.art107 Bank liquidator deceased
s.art108 Loss of qualification as insolvency practitioner
s.art110 Notice to Bank of England of intention to vacate office
s.art111 Bank liquidator’s duties on vacating office
s.art112 Power of court to set aside certain transactions
s.art113 Rule against solicitation
s.art114 Application of rules in this Part
s.art115 Membership of committee
s.art116 Formalities of establishment
s.art117 Committee established by contributories
s.art118 Obligations of liquidator to committee
s.art119 Meetings of the committee
s.art120 The Chair at meetings
s.art121 Quorum
s.art122 Committee-members’ representatives
s.art123 Resignation
s.art124 Termination of membership
s.art125 Removal
s.art126 Vacancy (creditor members)
s.art127 Vacancy (contributory members)
s.art128 Voting rights and resolutions
s.art129 Resolutions by post
s.art130 Liquidator’s reports
s.art131 Expenses of members etc.
s.art132 Dealings by committee-members and others
s.art133 Composition of committee when creditors paid in full
s.art134 Committee’s functions vested in the Department
s.art135 Formal defects
s.art136 General duties of bank liquidator
s.art138 Manner of distributing assets
s.art139 Debts of insolvent company to rank equally
s.art140 Supplementary provisions as to dividend
s.art141 Division of unsold assets
s.art142 General powers of the liquidator
s.art143 Enforced delivery up of company’s property
s.art144 Final distribution
s.art145 Liquidator’s notice of disclaimer
s.art146 Communication of disclaimer to persons interested
s.art147 Additional notices
s.art148 Duty to keep court informed
s.art149 Application by interested party under Article 152(4)
s.art150 Interest in property to be declared on request
s.art151 Disclaimer presumed valid and effective
s.art152 Application for exercise of court’s powers under Article 155
s.art153 Preliminary
s.art155 Duty of liquidator to settle list
s.art156 Form of list
s.art157 Procedure for settling list
s.art158 Application to court for variation of the list
s.art159 Variation of, or addition to, the list
s.art160 Costs not to fall on bank liquidator
s.art161 Calls by liquidator
s.art162 Control by bank liquidation committee
s.art163 Application to court for leave to make a call
s.art164 Making and enforcement of the call
s.art165 Appointment and remuneration
s.art166 Security
s.art167 Failure to give or keep up security
s.art168 Accounting
s.art169 Termination of appointment
s.art170 General rule as to priority
s.art171 Litigation expenses and property subject to a floating charge-general application
s.art172 Litigation expenses and property subject to a floating charge-requirement for approval or authorisation
s.art173 Litigation expenses and property subject to a floating charge-request for approval or authorisation
s.art174 Litigation expenses and property subject to a floating charge-grant of approval or authorisation
s.art175 Litigation expenses and property subject to a floating charge-application to court by the bank liquidator
s.art176 Saving for powers of the court
s.art177 Application to court for order authorising return of capital
s.art178 Procedure for return of capital
s.art179 Department’s directions under section 116 of the 2009 Act
s.art180 Procedure following appeal under section 116 of the 2009 Act
s.art181 Preliminary
s.art182 Application for leave under Article 180(3) before passing of full payment resolution
s.art183 Consideration of application for leave under Article 180(3)
s.art184 First excepted case
s.art185 Second excepted case
s.art186 Third excepted case
s.art187 Further exception
s.art188 Preliminary
s.art189 Interpretation
s.art190 Form and contents of application
s.art191 Application under Article 150A(5) to disapply Article 150A
s.art192 Filing and service of application
s.art193 Notice of application under Article 150A(5)
s.art194 Other hearings without notice
s.art195 Hearing of application
s.art196 Use of affidavit evidence
s.art197 Filing and service of affidavits
s.art198 Use of reports
s.art199 Adjournment of hearing: directions
s.art200 Nomination and appointment of shorthand writers
s.art201 Remuneration
s.art202 Enforcement of court orders
s.art203 Orders enforcing compliance with the rules
s.art204 Warrants (general provisions)
s.art205 Warrants under Article 200
s.art206 Title of proceedings
s.art207 Court records
s.art208 Inspection of records
s.art209 File of court proceedings and inspection
s.art210 Filing of Gazette notices and advertisements
s.art211 Application of the Supreme Court Rules
s.art212 Requirement to assess costs by the detailed procedure
s.art213 Procedure where detailed assessment required
s.art214 Cost of officers charged with executions of writs or other process
s.art215 Costs paid otherwise than out of the insolvent estate
s.art216 Award of costs against responsible insolvency practitioner
s.art217 Application for costs
s.art218 Costs and expenses of witnesses
s.art219 Introductory
s.art220 Appointment of another person to act
s.art221 Affidavit in support of application
s.art222 Service of notices following appointment
s.art223 Appeals and review of court orders
s.art224 Procedure on appeal
s.art225 Appeal against a decision of the Department
s.art226 Principal court rules and practice to apply
s.art227 Right of attendance
s.art228 Restriction on concurrent proceedings and remedies
s.art229 Security in court
s.art230 Further information and disclosure
s.art231 Office copies of documents
s.art232 Definition of “proxy”
s.art233 Issue and use of forms
s.art234 Use of proxies at meetings
s.art235 Retention of proxies
s.art236 Right of inspection
s.art237 Proxy-holder with financial interest
s.art238 Company representation
s.art239 Preliminary
s.art240 Form and contents of application
s.art241 Order for examination, etc
s.art242 Procedure for examination
s.art243 Record of examination
s.art244 Cost of proceedings
s.art245 Preliminary
s.art246 Notice of intended dividend
s.art247 Final admission/rejection of proofs
s.art248 Postponement or cancellation of dividend
s.art249 Decision to declare dividend
s.art250 Notice of declaration
s.art251 Notice of no, or no further, dividend
s.art252 Proof altered after payment of dividend
s.art253 Secured creditors
s.art254 Disqualification from dividend
s.art255 Assignment of right to dividend
s.art256 Preferential creditors
s.art257 Debt payable at future time
s.art258 Power of Department to regulate certain matters
s.art259 Costs, expenses, etc
s.art260 Provable debts
s.art261 Notices
s.art262 Quorum at meeting of creditors or contributories
s.art263 Evidence of proceedings at meetings
s.art264 Documents issuing from the Department
s.art265 Insolvency practitioner’s security
s.art266 Time
s.art267 Service by post
s.art268 General provisions as to service
s.art269 Service outside the jurisdiction
s.art270 Confidentiality of documents
s.art271 Notices sent simultaneously to the same person
s.art272 Right to copy documents
s.art273 Charge for copy documents
s.art274 Non-receipt of notice of meeting
s.art276 False claim of status as creditors
s.art277 Execution overtaken by judgement debtor’s insolvency
s.art278 The Gazette
s.art279 Punishment of offences
s.art280 Notice of order under Article 150A(5)
s.art281 Introductory
s.art282 Expressions used generally
s.art283 “Give notice”, etc
s.art284 Notice, etc to solicitors
s.art285 Notice to joint bank liquidators
s.art286 “Insolvent estate”
s.art287 “Responsible insolvency practitioner”, etc
s.art288 The Schedule

Duty extraction and severity labels are Guvnor’s analysis of the instrument, not the instrument itself. Always verify against the linked source text.