New administrator appointed
- Old administrator must pass claims to new administrator Director or Officer
Northern Ireland Statutory Rule
2026
United Kingdom
The Payment and Electronic Money Institution Insolvency (Northern Ireland) Rules 2026
At a glance
What's here
6 compliance obligations
Who this Act binds
Business-side actors with duties under this Act, ranked by how often they appear.
- Director or Officer 2
- Applicant 1
- Trader 1
Plus 2 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
Applicants also bound by 293 other Acts (top 5 shown)
- Insolvency (England and Wales) Rules 2016 2016 46 duties
- Human Medicines Regulations 2012 2012 30 duties
- The Land Registration Rules 2003 2003 25 duties
- Value Added Tax Regulations 1995 1995 18 duties
- Space Industry Regulations 2021 2021 14 duties
Traders also bound by 826 other Acts (top 5 shown)
- Value Added Tax Regulations 1995 1995 413 duties
- Companies Act 2006 2006 243 duties
- The Large and Medium-sized Companies and Groups (Accounts and Reports) Regulations 2008 2008 114 duties
- Insolvency (England and Wales) Rules 2016 2016 62 duties
- Building Societies Act 1986 1986 56 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.
New administrator appointed
- Former administrator must transfer debt proofs to new administrator Director or Officer
Secured creditors
- Repay excess dividend after revaluing security as a secured creditor Trader
Form and contents of application
- Ensure applications under insolvency rules are in writing and contain required information Applicant
Requisition of meetings
Other duties (1) — Crown / regulator
- Administrator must hold requisitioned meeting within 28 days and notify FCA Statutory regulator
Calculation of voting rights (creditors)
Other duties (1) — Crown / regulator
- Calculate creditor voting rights using claim values and set-offs Tribunal / Court
Browse 287 other sections — procedural / definitional / commencement
Citation
Proof of service
Allocation of expenses to be paid from the relevant funds
Content of relevant funds claim
Debt in a foreign currency
Costs of making a claim
Admission and rejection of relevant funds claim
Appeal against decision on relevant funds claim
Withdrawal or variation of relevant funds claim
Exclusion of relevant funds claim by the court
Notice of the bar date
Further notification
Notifying potential claimants after bar date has passed
Distribution plan
Approval by the creditors’ committee
Approval by the court
Treatment of late claimants
Distribution to creditors
Debts of institution to rank equally
Supplementary provisions as to dividend
Division of unsold assets
Proving a debt
The hearing
Costs of proving
Administrator to allow inspection of proofs
Admission and rejection of proofs for dividend
Appeal against decision on proof
Withdrawal or variation of proof
Exclusion of proof by the court
Estimate of quantum
Negotiable instruments
Secured creditors
The special administration order
Discounts
Mutual credit and set-off
Debt in a foreign currency
Payments of a periodical nature
Interest
Debt payable at a future time
Value of security
Surrender for non-disclosure
Redemption by administrator
Test of security’s value
Costs
Realisation of security by creditor
Notice of proposed distribution
Admission or rejection of proofs
Postponement or cancellation of dividend
Declaration of a dividend
Notice of declaration of a dividend
Payments of dividend and related matters
Notice of no dividend or no further dividend
Proof altered after payment of dividend
Notice of special administration order
Disqualification from dividend
Assignment of right to dividend
Debt payable at a future time
General powers
Powers of disclaimer
Communication of disclaimer to persons interested
Additional notices
Records
Application by interested party
Interest in property to be declared on request
Notification and advertisement of administrator’s appointment
Disclaimer presumed valid and effective
Application for the exercise of court’s powers under Article 155
Fixing of remuneration
Recourse to meeting of creditors and customers
Recourse to the court
Creditors’ and customers’ request for further information
Claim that remuneration is excessive
Review of remuneration
Remuneration of new administrator
Apportionment of set fee remuneration
Notice requiring statement of affairs
Grounds for resignation
Notice of intention to resign
Notice of resignation
Application to court to remove administrator from office
Notice of vacation of office when administrator ceases to be qualified
Administrator deceased
Application to replace
Notification and advertisement of appointment of replacement administrator
Notification and advertisement of appointment of joint administrator
Notification of new administrator
Statement of affairs: content
Administrator’s duties on vacating office
Final progress reports
Application to court by administrator
Application to court by creditor
Notification by administrator of court order
Moving from special administration to dissolution
Principal court rules and practice to apply
Shorthand writers — nomination, appointment, remuneration and costs
Court file
Office copies of documents
Details of the asset pool, safeguarding measures and reconciliation
Payments into court
Further information and discovery
Affidavits — general
Filing and service of affidavits
Evidence provided by the administrator
Application of Chapter
Service of court documents within the jurisdiction
Service of court documents outside jurisdiction
Service of orders staying proceedings
Service on joint office-holders
Commencement
Verification, filing and affidavit
Application of Chapter
Filing and service of application
Directions
Hearings without notice
Hearing of application
Adjournment of the hearing of an application
Application of Chapter
Applications under Article 150A(5) to disapply Article 150A
Notice of application under Article 150A(5)
Limited disclosure
Notice of an order under Article 150A(5)
Application of Article 200 of the I (N.I.) O 1989
Form and contents of application
Order for examination etc.
Procedure for examination
Record of examination
Costs of proceedings under Article 200 of the I (N.I.) O 1989
Application of Chapter 8
Appointment of another person to act
Affidavit in support of application
Release from duty to submit statement of affairs
Service of notices following appointment
Formal defects
Application of Chapter 10
Requirement to tax costs
Procedure where taxation is required
Costs paid otherwise than out of the institution’s estate
Award of costs against the administrator
Applications for costs
Costs and expenses of witnesses
Final costs certificate
Expenses of statement of affairs
Enforcement of court orders
Orders enforcing compliance with these Rules
Warrants (general provisions)
Warrants under Article 200
Application of Chapter 12
Appeals and reviews of court orders
Procedure on appeal
Appeal against decision of the Secretary of State
Preliminary
Application for permission under Article 180(3)
Submission of accounts
First excepted case
Second excepted case
Third excepted case
Costs, expenses etc
Provable debts
False representation of status for purpose of inspecting documents
Punishment of offences
Application
Personal delivery
Postal delivery of documents
Administrator’s proposals
Notice etc to authorised recipients
Application
The form
Proof of sending
Authentication
Electronic delivery — general
Electronic delivery by administrator
Use of websites by administrator
General use of websites to deliver notices and other documents
Electronic delivery of special administration documents to court
Limited disclosure of the statement of proposals
Notice etc to joint administrators
Execution overtaken by judgment debtor’s insolvency
Notice to the Enforcement of Judgments Office
Electronic submission of information
Contents of notices to be gazetted
Gazette notices relating to an institution that is a company
Omission of unobtainable information
The Gazette — general
Content of notices advertised other than in the Gazette
Non-Gazette notice relating to an institution that is a company
Initial meeting
Non-Gazette notices — other provisions
Application of Chapter 4
Information to be contained in all notifications to the registrar of companies
Notification relating to the administrator
Notifications relating to documents
Notifications relating to court orders
Notifications relating to other events
Notifications of more than one nature
Notifications made to other persons at the same time
Confidentiality of documents — grounds for refusing inspection
Notice to officers
Right to copy documents
Charges for copy documents
Right to have list of creditors
Time limits
Administrator’s security
Proceedings commenced in the wrong division of the High Court
Proceedings other than special administration commenced
Introduction
“The High Court” and “the Master”
Remote attendance at meetings and place
Business of the initial meeting
Insolvent estate
The appropriate fee
“Debt” and “liability”
Application of the I (N.I.) O 1989 and the Company Directors Disqualification (N.I.) Order 2002
Interpretation
Adjournment of meeting to approve the statement of proposals
Revision of the statement of proposals
Meeting to approve the revised statement of proposals
Notice to creditors and customers
Meetings generally
Venue
Notice of meeting by individual notice: when and where sent
Notice of meeting by individual notice: content and accompanying documents
Notice of meeting by advertisement only
Content of notice for meetings
Application of Rules
Gazetting and advertisement of meetings
Non-receipt of notice of meeting
Expenses of requisitioned meetings
Quorum at meetings
Chair at meetings
Adjournment by chair
Adjournment in absence of chair
Claims, proofs and proxies in adjournment
Suspension
Content of application
Venue and conduct of company meetings
Entitlement to vote (creditors)
Calculation of voting rights: special cases (creditors)
Procedure for admitting creditors’ claims for voting
Entitlement to vote (customers)
Procedure for admitting customers’ relevant funds claims for voting
Voting at meetings of creditors and customers
Requisite majorities
Requisite majorities at contributories’ meetings
Statement of proposed administrator
Appeals against decisions under this Chapter
Correspondence instead of meetings
Remote attendance at meetings conducted in accordance with Article 208ZA
Action where person excluded
Indication to excluded person
Complaint
Minutes
Returns or reports of meetings
Constitution of creditors’ committee
Formalities of establishment
Affidavit in support of application
Functions and meetings of the creditors’ committee
The chair at meetings
Quorum
Creditors’ committee members’ representatives
Resignation
Termination of membership
Removal
Vacancies
Procedure at meetings
Remote attendance at meetings of creditors’ committee
Filing of application
Procedure for requests that a place for a meeting should be specified
Resolutions of creditors’ committees by post
Information from administrator
Expenses of members
Members dealing with the institution
Formal defects
Content of progress report
Delivering a progress report
Definition of proxy
Issue and use of forms
Service of application
Use of proxies at meetings
Retention of proxies
Right of inspection
Proxy-holder with financial interest
Corporate representation
Application to dispose of charged property
Expenses of voluntary arrangement
Expenses to be paid out of the institution’s assets
Expenses to be paid out of the relevant funds
Pre-administration costs
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