UK Statutory Instrument SI 2009/356 United Kingdom

The Bank Insolvency (England and Wales) Rules 2009

Read it on legislation.gov.uk (opens in a new tab)
Status
In Force
Penalty ceiling
Regulated

Does it bind you?

Business-side roles with duties under this instrument.

Director or Officer11 Trader1

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
Trader — also bound by 825 other Acts
Companies Act 2006 243 duties
Companies Act 1985 85 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.rule 106 Replacement Bank liquidator Regulated
Other duties (1) — Crown / regulator
  • Bank of England must appoint a replacement bank liquidator when neededStatutory regulator
s.rule 109 Resignation of the bank liquidator Regulated
  • Resign as bank liquidator only after conditions and with Bank of England consentDirector or Officer
s.rule 137 General qualification on powers Regulated
Other duties (1) — Crown / regulator
  • Use powers only to achieve Objective 1 until full payment resolution passesStatutory regulator
s.rule 154 Primacy of Objective 1 Regulated
Other duties (1) — Crown / regulator
  • Bank liquidator must postpone other duties if Objective 1 is at riskStatutory regulator
s.rule 16 Making, transmission and advertisement of order Regulated
  • Serve and advertise the bank insolvency orderDirector or Officer
s.rule 18 Initial duties of bank liquidation committee Regulated
Other duties (1) — Crown / regulator
  • Liquidation committee must meet and recommend objectives for bank insolvencyCrown / Minister / Government department
s.rule 22 Order of appointment Regulated
  • Serve the order of appointment on the bankDirector or Officer
s.rule 277 Right to have list of creditors Regulated
  • Provide list of creditors on request (if no statement of affairs filed)Director or Officer
s.rule 34 Report by bank liquidator Regulated
  • Bank liquidator must prepare and publish a report on the insolvency proceedingsDirector or Officer
s.rule 40 First meeting Regulated
  • Summon and notify first meetings of creditors and contributories after full payment resolutionDirector or Officer
s.rule 42 General power to call meetings Regulated
  • Bank liquidator must notify Bank of England and regulator of removal meetingDirector or Officer
s.rule 45 Requisitioned meetings: reforming the liquidation committee Regulated
  • Convene a creditors' meeting to re-establish the liquidation committee when requestedDirector or Officer
s.rule 83 Remuneration of bank liquidator Regulated
  • Creditors can set the bank liquidator's pay if the committee is goneTrader
s.rule 86 Appointment to be advertised and registered Regulated
  • Advertise and register your appointment as bank liquidatorDirector or Officer
s.rule 88 Action following acceptance of resignation Regulated
  • File resignation notice with court and notify regulatorsDirector or Officer
s.rule 96 Final meeting Regulated
  • Give notice of final meeting and file final reportDirector or Officer
278 other provisions — procedural and definitional
s.001 The following Schedules to the 1986 Rules are applied to... (opens in a new tab)
s.rule 1 Citation and commencement
s.rule 10 Other persons to receive copy of application
s.rule 100 Bank liquidator’s remuneration where he realises assets on behalf of chargeholder
s.rule 101 Other matters affecting remuneration
s.rule 102 Recourse of bank liquidator to meeting of creditors
s.rule 103 Recourse to the court
s.rule 104 Creditors’ claim that remuneration is excessive
s.rule 105 Primacy of Objective 1
s.rule 107 Bank liquidator deceased
s.rule 108 Loss of qualification as insolvency practitioner
s.rule 11 Verification of application
s.rule 110 Notice to Bank of England of intention to vacate office
s.rule 111 Bank liquidator’s duties on vacating office
s.rule 112 Power of court to set aside certain transactions
s.rule 113 Rule against solicitation
s.rule 114 Application of rules in this Part
s.rule 115 Membership of committee
s.rule 116 Formalities of establishment
s.rule 117 Committee established by contributories
s.rule 118 Obligations of liquidator to committee
s.rule 119 Meetings of the committee
s.rule 12 Persons entitled to copy of application
s.rule 120 The chair at meetings
s.rule 121 Quorum
s.rule 122 Committee–members’ representatives
s.rule 123 Resignation
s.rule 124 Termination of membership
s.rule 125 Removal
s.rule 126 Vacancy (creditor members)
s.rule 127 Vacancy (contributory members)
s.rule 128 Voting rights and resolutions
s.rule 129 Resolutions by post
s.rule 13 Certificate of compliance
s.rule 130 Liquidator’s reports
s.rule 131 Expenses of members, etc.
s.rule 132 Dealings by committee–members and others
s.rule 133 Composition of committee when creditors paid in full
s.rule 134 Committee’s functions vested in the Secretary of State
s.rule 135 Formal defects
s.rule 136 General duties of bank liquidator
s.rule 138 Manner of distributing assets
s.rule 139 Debts of insolvent company to rank equally
s.rule 14 Leave for the applicant to withdraw
s.rule 140 Supplementary provisions as to dividend
s.rule 141 Division of unsold assets
s.rule 142 General powers of the liquidator
s.rule 143 Enforced delivery up of company’s property
s.rule 144 Final distribution
s.rule 145 Liquidator’s notice of disclaimer
s.rule 146 Communication of disclaimer to persons interested
s.rule 147 Additional notices
s.rule 148 Duty to keep court informed
s.rule 149 Application by interested party under s 178(5)
s.rule 15 Witness statement in opposition
s.rule 150 Interest in property to be declared on request
s.rule 151 Disclaimer presumed valid and effective
s.rule 152 Application for exercise of court’s powers under s 181
s.rule 153 Preliminary
s.rule 155 Duty of liquidator to settle list
s.rule 156 Form of list
s.rule 157 Procedure for settling list
s.rule 158 Application to court for variation of the list
s.rule 159 Variation of, or addition to, the list
s.rule 160 Costs not to fall on bank liquidator
s.rule 161 Calls by bank liquidator
s.rule 162 Control by bank liquidation committee
s.rule 163 Application to court for leave to make a call
s.rule 164 Making and enforcement of the call
s.rule 165 Appointment and remuneration
s.rule 166 Security
s.rule 167 Failure to give or keep up security
s.rule 168 Accounting
s.rule 169 Termination of appointment
s.rule 17 Authentication of bank liquidator’s appointment
s.rule 170 General rule as to priority
s.rule 171 Litigation expenses and property subject to a floating charge–general application
s.rule 172 Litigation expenses and property subject to a floating charge–requirement for approval or authorisation
s.rule 173 Litigation expenses and property subject to a floating charge–request for approval or authorisation
s.rule 174 Litigation expenses and property subject to a floating charge–grant of approval or authorisation
s.rule 175 Litigation expenses and property subject to a floating charge–application to court by the bank liquidator
s.rule 176 Saving for powers of the court
s.rule 177 Application to court for order authorising return of capital
s.rule 178 Procedure for return of capital
s.rule 179 Secretary of State’s directions under section 116 of the 2009 Act
s.rule 180 Procedure following appeal under section 116 of the 2009 Act
s.rule 181 Preliminary
s.rule 182 Application for leave under s 216(3) before passing of full payment resolution
s.rule 183 Consideration of application for leave under s 216(3)
s.rule 184 First excepted case
s.rule 185 Second excepted case
s.rule 186 Third excepted case
s.rule 187 Further exception
s.rule 188 Preliminary
s.rule 189 Interpretation
s.rule 19 Expenses of voluntary arrangement
s.rule 190 Form and contents of application
s.rule 191 Application under section 176A(5) to disapply section 176A
s.rule 192 Filing and service of application
s.rule 193 Notice of application under section 176A(5)
s.rule 194 Other hearings without notice
s.rule 195 Hearing of application
s.rule 196 Use of evidence
s.rule 197 Filing and service of witness statements
s.rule 198 Use of reports
s.rule 199 Adjournment of hearings: directions
s.rule 2 Extent
s.rule 20 Appointment of provisional bank liquidator
s.rule 200 Nomination and appointment of shorthand writers
s.rule 201 Remuneration
s.rule 202 Enforcement of court orders
s.rule 203 Orders enforcing compliance with the rules
s.rule 204 Warrants (general provisions)
s.rule 205 Warrants under section 236
s.rule 206 Title of proceedings
s.rule 207 Court records
s.rule 208 Inspection of records
s.rule 209 File of court proceedings and inspection
s.rule 21 Notice of appointment
s.rule 210 Filing of Gazette notices and advertisements
s.rule 211 Application of the CPR
s.rule 212 Requirement to assess costs by the detailed procedure
s.rule 213 Procedure where detailed assessment required
s.rule 214 Costs of officers charged with executions of writs or other process
s.rule 215 Costs paid otherwise than out of the insolvent estate
s.rule 216 Award of costs against responsible insolvency practitioner
s.rule 217 Application for costs
s.rule 218 Costs and expenses of witnesses
s.rule 219 Final costs certificate
s.rule 220 Introductory
s.rule 221 Appointment of another person to act
s.rule 222 Witness statement in support of application
s.rule 223 Service of notices following appointment
s.rule 224 Appeals and review of court orders
s.rule 225 Procedure on appeal
s.rule 226 Appeal against a decision of the Secretary of State
s.rule 227 Principal court rules and practice to apply
s.rule 228 Right of attendance
s.rule 229 Restriction on concurrent proceedings and remedies
s.rule 23 Security
s.rule 230 Security in court
s.rule 231 Payment into court
s.rule 232 Further information and disclosure
s.rule 233 Office copies of documents
s.rule 234 Definition of “proxy”
s.rule 235 Issue and use of forms
s.rule 236 Use of proxies at meetings
s.rule 237 Retention of proxies
s.rule 238 Right of inspection
s.rule 239 Proxy–holder with financial interest
s.rule 24 Failure to give or keep up security
s.rule 240 Company representation
s.rule 241 Preliminary
s.rule 242 Form and contents of application
s.rule 243 Order for examination, etc.
s.rule 244 Procedure for examination
s.rule 245 Record of examination
s.rule 246 Costs of proceedings
s.rule 247 Preliminary
s.rule 248 Notice of intended dividend
s.rule 249 Final admission/rejection of proofs
s.rule 25 Remuneration
s.rule 250 Postponement or cancellation of dividend
s.rule 251 Decision to declare dividend
s.rule 252 Notice of declaration
s.rule 253 Notice of no, or no further, dividend
s.rule 254 Proof altered after payment of dividend
s.rule 255 Secured creditors
s.rule 256 Disqualification from dividend
s.rule 257 Assignment of right to dividend
s.rule 258 Preferential creditors
s.rule 259 Debt payable at future time
s.rule 26 Termination of appointment
s.rule 260 Power of Secretary of State or Treasury to regulate certain matters
s.rule 261 Costs, expenses, etc.
s.rule 262 Provable debts
s.rule 263 Notices
s.rule 264 Quorum at meeting of creditors or contributories
s.rule 265 Evidence of proceedings at meetings
s.rule 266 Documents issuing from Secretary of State
s.rule 267 Insolvency practitioner’s security
s.rule 268 Time limits
s.rule 269 Service by post
s.rule 27 Notice requiring statement of affairs
s.rule 270 General provisions as to service
s.rule 271 Service outside the jurisdiction
s.rule 272 Confidentiality of documents
s.rule 273 Notices sent simultaneously to the same person
s.rule 274 Right to copy documents
s.rule 275 Charge for copy documents
s.rule 276 Non–receipt of notice of meeting
s.rule 278 False claim of status as creditor, etc
s.rule 279 Execution overtaken by judgement debtor’s insolvency
s.rule 28 Verification and filing
s.rule 280 The Gazette
s.rule 281 Punishment of offences
s.rule 282 Notice of order under section 176A(5)
s.rule 283 Introductory
s.rule 284 “The court”; “the registrar”
s.rule 285 “Give notice”, etc.
s.rule 286 Notice, etc. to solicitors
s.rule 287 Notice to joint bank liquidators
s.rule 288 “Insolvent estate”
s.rule 289 “Responsible insolvency practitioner”, etc.
s.rule 29 Limited disclosure
s.rule 290 “The appropriate fee”
s.rule 291 “Debt”, “liability”
s.rule 292 Expressions used generally
s.rule 293 The Schedule
s.rule 3 Application of rules, construction and interpretation
s.rule 30 Release from duty to submit statement of affairs; extension of time
s.rule 31 Expenses of statement of affairs
s.rule 32 Submission of accounts
s.rule 33 Further disclosure
s.rule 35 Meaning of “creditors”
s.rule 36 Report where statement of affairs lodged
s.rule 37 Statement of affairs dispensed with
s.rule 38 General rule as to reporting
s.rule 39 Bank insolvency stayed
s.rule 4 Overview
s.rule 41 Business at first meetings of creditors and contributories
s.rule 43 The chair at meetings
s.rule 44 Requisitioned meetings: general
s.rule 46 Attendance at meetings of bank’s personnel
s.rule 47 Notice of meetings by advertisement only
s.rule 48 Venue
s.rule 49 Expenses of summoning meetings
s.rule 5 Forms
s.rule 50 Resolutions
s.rule 51 Chair of meeting as proxy–holder
s.rule 52 Suspension and adjournment
s.rule 53 Entitlement to vote (creditors)
s.rule 54 Entitlement to vote (contributories)
s.rule 55 Admission and rejection of proof (creditors’ meetings)
s.rule 56 Record of proceedings
s.rule 57 Meaning of “prove”
s.rule 58 Supply of forms
s.rule 59 Contents of proof
s.rule 6 Time limits
s.rule 60 Claim established by witness statement
s.rule 61 Cost of proving
s.rule 62 Bank liquidator to allow inspection of proofs
s.rule 63 New bank liquidator appointed
s.rule 64 Admission and rejection of proofs for dividend
s.rule 65 Appeal against decision on proof
s.rule 66 Withdrawal or variation of proof
s.rule 67 Expunging of proof by the court
s.rule 68 Estimate of quantum
s.rule 69 Negotiable instruments, etc.
s.rule 7 Filing of application
s.rule 70 Secured creditors
s.rule 71 Discounts
s.rule 72 Mutual credits and set–off
s.rule 73 Disapplication of set off for eligible depositors
s.rule 74 Debt in foreign currency
s.rule 75 Payments of a periodical nature
s.rule 76 Interest
s.rule 77 Debt payable at future time
s.rule 78 Value of security
s.rule 79 Surrender for non–disclosure
s.rule 8 Service of application
s.rule 80 Redemption by liquidator
s.rule 81 Test of security’s value
s.rule 82 Realisation of security by creditor
s.rule 84 Replacement of bank liquidator by creditors
s.rule 85 Authentication of bank liquidator’s appointment
s.rule 87 Creditors’ meeting to be notified of the bank liquidator’s resignation
s.rule 89 Advertisement of resignation
s.rule 9 Proof of service
s.rule 90 Meeting of creditors to remove bank liquidator
s.rule 91 Court’s power to regulate meetings under rule 90
s.rule 92 Procedure on removal
s.rule 93 Advertisement of removal
s.rule 94 Removal of bank liquidator by the court
s.rule 95 Release of resigning or removed bank liquidator
s.rule 97 Rule as to reporting
s.rule 98 Fixing of remuneration
s.rule 99 Bank liquidator’s entitlement to remuneration where it is not fixed under rule 98

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