Appointment of bank liquidator by the court
- Bank liquidator must immediately notify regulators and advertise appointment
UK Statutory Instrument
2009
United Kingdom
The Bank Insolvency (Scotland) Rules 2009
At a glance
What's here
14 compliance obligations
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.
Report by bank liquidator
- Publish first bank insolvency report on the bank's website within 8 weeks
First meetings in the bank liquidation
- Summon and notify first meetings of creditors and contributories
Appointment to be advertised and registered
- Advertise appointment and notify court, registrar and Accountant in Bankruptcy
General qualification on powers
- Bank liquidator must exercise powers consistently with Objective 1 before full payment resolution
Summoning of meeting for removal of bank liquidator
- Bank liquidator must summon creditors' removal meeting when ordered
Resignation of liquidator
- Call creditor meeting and obtain Bank of England consent before resigning
Action following acceptance of bank liquidator’s resignation
- Bank liquidator must lodge resignation notice with court and notify Bank of England and Companies House
Final meeting
- Conduct final meeting and submit final report as bank liquidator
Replacement bank liquidator
- Forward and advertise your appointment as bank liquidator
Resignation of the bank liquidator
- Bank liquidator must follow resignation procedure with Bank of England consent
Notice to Bank of England of intention to vacate office
- Notify Bank of England before vacating office as bank liquidator
Chair of meetings
- Chair bank insolvency meetings or nominate a qualified chair
Requisitioned meetings reforming the liquidation committee
- Bank liquidator must summon meeting to re‑establish liquidation committee if 1/10 of creditors request it
Browse 118 other sections — procedural / definitional / commencement
Citation and commencement
Extent
Application of rules, construction and interpretation
Time limits
Overview
Application for bank insolvency order
Persons entitled to copy of application
Initial duties of bank liquidation committee
Authentication of bank liquidator’s appointment
Appointment of provisional bank liquidator
Order of appointment of provisional bank liquidator
Caution
Failure to find or to maintain caution
Remuneration
Termination of appointment
Notice requiring statement of affairs
Form of the statement of affairs
Expenses of statement of affairs
Limited disclosure
Information as to pending liquidations
Business at the first meeting of creditors and contributories
Other meetings
Attendance at meetings of bank’s personnel
Submission of claims
Application of the
Claims in foreign currency
Rights of eligible depositor and set-off
Appointment by creditors
Hand-over of assets to bank liquidator
Taking possession and realisation of the company’s assets
Procedure on bank liquidator’s removal
Release of bank liquidator on removal
Removal of bank liquidator by the court
Advertisement of removal
Release of resigning or removed bank liquidator
Determination of amount of outlays and remuneration
Recourse of 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
Power of court to set aside certain transactions
Rule against solicitation
Application of rules
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,
Dealings by committee-members and others
Composition of committee when creditors paid in full
Formal defects
Order of priority in distribution
Order of priority of expenses of liquidation
Application of the Bankruptcy Act
Appointment and remuneration
Caution
Failure to find or maintain caution
Accounting
Termination of appointment
Secretary of State’s directions under section 116 of the
Procedure following appeal under section 116 of the 2009 Act
Limitation
Dissolution after winding up
Preliminary
Application for leave under section 216(3) before passing of full payment resolution
Application for leave under section 216(3)
First excepted case
Second excepted case
Third excepted case
Further exception
Summoning of meetings
Notice of meeting
Meetings requisitioned
Quorum
Adjournment
Entitlement to vote (creditors)
Entitlement to vote (members and contributories)
Chair of meeting as proxy holder
Resolutions
Report of meeting
Application under section 176A(5) to disapply section 176A
Notice of order under section 176A(5)
Definition of “proxy”
Form of proxy
Use of proxy at meeting
Retention of proxies
Right of inspection
Proxy holder with financial interest
Representation of corporations
Giving of notices, etc
Service outside the United Kingdom
Sending by post
Certificate of giving notice,
Validity of proceedings
Evidence of proceedings at meetings
Right to list of creditors and copy documents
Confidentiality of documents
Insolvency practitioner’s caution
Forms for use in insolvency proceedings
Fees, expenses, etc
Power of court to cure defects in procedure
Sederunt book
Disposal of company’s books, papers and other records
Information about time spent on a case
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