Making, transmission and advertisement of order
- Serve and advertise the bank insolvency order Director or Officer
Northern Ireland Statutory Rule
2009
United Kingdom
The Bank Insolvency (No. 2) Rules (Northern Ireland) 2009
At a glance
What's here
15 compliance obligations
Who this Act binds
Business-side actors with duties under this Act, ranked by how often they appear.
- Director or Officer 11
Plus 4 non-business duties on Crown ministers, regulators, local authorities or tribunals — shown collapsed under each section below.
Other Acts binding the same actors
For each actor bound by this Act, the other UK Acts that bind them most often. Useful for understanding the full compliance landscape facing each role.
Directors and Officers also bound by 425 other Acts (top 5 shown)
- Insolvency (England and Wales) Rules 2016 2016 161 duties
- Companies Act 2006 2006 108 duties
- Insolvency Act 1986 1986 72 duties
- The Large and Medium-sized Companies and Groups (Accounts and Reports) Regulations 2008 2008 55 duties
- The Housing Administration (England and Wales) Rules 2018 2018 26 duties
What this Act requires
Sections that create concrete duties on businesses or carry penalties. Procedural and definitional sections are folded into the “Browse other sections” expander at the bottom of each group. Click any section title to read the source text on legislation.gov.uk.
Order of appointment
- Provisional bank liquidator must serve appointment order on the bank Director or Officer
Report by bank liquidator
- Publish a report on bank insolvency within 8 weeks Director or Officer
First meeting
- Summon and notify first meetings of creditors and contributories Director or Officer
General power to call meetings
- Bank liquidator must notify Bank of England and FSA of removal meeting Director or Officer
The chair at meetings
- Ensure meetings are chaired by a qualified person Director or Officer
Requisitioned meetings reforming the liquidation committee
- Bank liquidator must call creditor meeting to re-form liquidation committee if 10% of creditors demand it Director or Officer
Appointment to be advertised and registered
- Advertise your appointment as bank liquidator and notify Companies House Director or Officer
Action following acceptance of resignation
- Bank liquidator must file resignation notice and notify regulators Director or Officer
Final meeting
- Conduct final meeting and reporting in bank insolvency Director or Officer
Replacement Bank liquidator
Other duties (1) — Crown / regulator
- Bank of England must appoint a new bank liquidator when the current one vacates office Crown / Minister / Government department
Resignation of the bank liquidator
Other duties (1) — Crown / regulator
- Bank of England must respond to liquidator's resignation request within 21 days Statutory regulator
General qualification on powers
Other duties (1) — Crown / regulator
- Bank liquidator must exercise powers consistently with Objective 1 before full payment resolution Statutory regulator
Primacy of Objective 1
Other duties (1) — Crown / regulator
- Postpone other duties when they would undermine Objective 1 Crown / Minister / Government department
Right to have list of creditors
- Bank liquidator must provide list of creditors on request Director or Officer
Browse 273 other sections — procedural / definitional / commencement
Citation, commencement and revocation
Extent
Application of rules, construction and interpretation
Overview
Forms
Time
Filing of application
Service of application
Proof of service
Other persons to receive copy of application
Verification of application
Persons entitled to copy of application
Certificate of compliance
Leave for the applicant to withdraw
Witness Statement in opposition
Authentication of bank liquidator’s appointment
Initial duties of bank liquidation committee
Expenses of voluntary arrangement
Appointment of provisional bank liquidator
Notice of appointment
Security
Failure to give or keep up security
Remuneration
Termination of appointment
Notice requiring statement of affairs
Verification and filing
Limited disclosure
Release from duty to submit statement of affairs; extension of time
Expenses of statement of affairs
Submission of accounts
Further disclosure
Meaning of “creditors”
Report where statement of affairs lodged
Statement of affairs dispensed with
General rule as to reporting
Bank insolvency stayed
Business at first meetings of creditors and contributories
Requisitioned meetings general
Attendance at meetings of bank’s personnel
Notice of meetings by advertisement only
Venue
Expenses of summoning meetings
Resolutions
Chairman of meeting as proxy-holder
Suspension and adjournment
Entitlement to vote (creditors)
Entitlement to vote (contributories)
Admission and rejection of proof (creditors’ meetings)
Record of proceedings
Meaning of “prove”
Supply of forms
Contents of proof
Claim established by affidavit
Cost of proving
Bank Liquidator to allow inspection of proofs
New bank liquidator appointed
Admission and rejection of proofs for dividend
Appeal against decision on proof
Withdrawal or variation of proof
Expunging of proof by the court
Estimate of quantum
Negotiable instruments, etc.
Secured creditors
Discounts
Mutual credits and set-off
Disapplication of set off for eligible depositors
Debt in foreign Currency
Payments of a periodical nature
Interest
Debt payable at future time
Value of security
Surrender for non-disclosure
Redemption by liquidator
Test of security’s value
Realisation of security by creditor
Remuneration of bank liquidator
Replacement of bank liquidator by creditors
Authentication of bank liquidator’s appointment
Creditors’ meeting to be notified of bank liquidator’s resignation
Advertisement of resignation
Meeting of creditors to remove bank liquidator
Court’s power to regulate meetings under rule 90
Procedure on removal
Advertisement of removal
Removal of bank liquidator by the court
Release of resigning or removed bank liquidator
Rule as to reporting
Fixing of remuneration
Bank liquidator’s entitlement to remuneration where it is not fixed under rule 98
Bank liquidator’s remuneration where he realises assets on behalf of chargeholder
Other matters affecting remuneration
Recourse of bank liquidator to meeting of creditors
Recourse to the court
Creditors’ claim that remuneration is excessive
Primacy of Objective 1
Bank liquidator deceased
Loss of qualification as insolvency practitioner
Notice to Bank of England of intention to vacate office
Bank liquidator’s duties on vacating office
Power of court to set aside certain transactions
Rule against solicitation
Application of rules in this Part
Membership of committee
Formalities of establishment
Committee established by contributories
Obligations of liquidator to committee
Meetings of the committee
The Chair at meetings
Quorum
Committee-members’ representatives
Resignation
Termination of membership
Removal
Vacancy (creditor members)
Vacancy (contributory members)
Voting rights and resolutions
Resolutions by post
Liquidator’s reports
Expenses of members etc.
Dealings by committee-members and others
Composition of committee when creditors paid in full
Committee’s functions vested in the Department
Formal defects
General duties of bank liquidator
Manner of distributing assets
Debts of insolvent company to rank equally
Supplementary provisions as to dividend
Division of unsold assets
General powers of the liquidator
Enforced delivery up of company’s property
Final distribution
Liquidator’s notice of disclaimer
Communication of disclaimer to persons interested
Additional notices
Duty to keep court informed
Application by interested party under Article 152(4)
Interest in property to be declared on request
Disclaimer presumed valid and effective
Application for exercise of court’s powers under Article 155
Preliminary
Duty of liquidator to settle list
Form of list
Procedure for settling list
Application to court for variation of the list
Variation of, or addition to, the list
Costs not to fall on bank liquidator
Calls by liquidator
Control by bank liquidation committee
Application to court for leave to make a call
Making and enforcement of the call
Appointment and remuneration
Security
Failure to give or keep up security
Accounting
Termination of appointment
General rule as to priority
Litigation expenses and property subject to a floating charge-general application
Litigation expenses and property subject to a floating charge-requirement for approval or authorisation
Litigation expenses and property subject to a floating charge-request for approval or authorisation
Litigation expenses and property subject to a floating charge-grant of approval or authorisation
Litigation expenses and property subject to a floating charge-application to court by the bank liquidator
Saving for powers of the court
Application to court for order authorising return of capital
Procedure for return of capital
Department’s directions under section 116 of the 2009 Act
Procedure following appeal under section 116 of the 2009 Act
Preliminary
Application for leave under Article 180(3) before passing of full payment resolution
Consideration of application for leave under Article 180(3)
First excepted case
Second excepted case
Third excepted case
Further exception
Preliminary
Interpretation
Form and contents of application
Application under Article 150A(5) to disapply Article 150A
Filing and service of application
Notice of application under Article 150A(5)
Other hearings without notice
Hearing of application
Use of affidavit evidence
Filing and service of affidavits
Use of reports
Adjournment of hearing: directions
Nomination and appointment of shorthand writers
Remuneration
Enforcement of court orders
Orders enforcing compliance with the rules
Warrants (general provisions)
Warrants under Article 200
Title of proceedings
Court records
Inspection of records
File of court proceedings and inspection
Filing of Gazette notices and advertisements
Application of the Supreme Court Rules
Requirement to assess costs by the detailed procedure
Procedure where detailed assessment required
Cost of officers charged with executions of writs or other process
Costs paid otherwise than out of the insolvent estate
Award of costs against responsible insolvency practitioner
Application for costs
Costs and expenses of witnesses
Introductory
Appointment of another person to act
Affidavit in support of application
Service of notices following appointment
Appeals and review of court orders
Procedure on appeal
Appeal against a decision of the Department
Principal court rules and practice to apply
Right of attendance
Restriction on concurrent proceedings and remedies
Security in court
Further information and disclosure
Office copies of documents
Definition of “proxy”
Issue and use of forms
Use of proxies at meetings
Retention of proxies
Right of inspection
Proxy-holder with financial interest
Company representation
Preliminary
Form and contents of application
Order for examination, etc
Procedure for examination
Record of examination
Cost of proceedings
Preliminary
Notice of intended dividend
Final admission/rejection of proofs
Postponement or cancellation of dividend
Decision to declare dividend
Notice of declaration
Notice of no, or no further, dividend
Proof altered after payment of dividend
Secured creditors
Disqualification from dividend
Assignment of right to dividend
Preferential creditors
Debt payable at future time
Power of Department to regulate certain matters
Costs, expenses, etc
Provable debts
Notices
Quorum at meeting of creditors or contributories
Evidence of proceedings at meetings
Documents issuing from the Department
Insolvency practitioner’s security
Time
Service by post
General provisions as to service
Service outside the jurisdiction
Confidentiality of documents
Notices sent simultaneously to the same person
Right to copy documents
Charge for copy documents
Non-receipt of notice of meeting
False claim of status as creditors
Execution overtaken by judgement debtor’s insolvency
The Gazette
Punishment of offences
Notice of order under Article 150A(5)
Introductory
Expressions used generally
“Give notice”, etc
Notice, etc to solicitors
Notice to joint bank liquidators
“Insolvent estate”
“Responsible insolvency practitioner”, etc
The Schedule
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