Bank administrator’s proposals: Objective 2 Stage
- Issue a statement of proposals to creditors during bank administration (Objective 2 Stage)
UK Statutory Instrument
2009
United Kingdom
The Bank Administration (England and Wales) Rules 2009
At a glance
What's here
7 compliance obligations
Who this Act binds
Plus 1 non-business duty on Crown ministers, regulators, local authorities or tribunals — shown collapsed under each section below.
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.
Where the court orders an extension of the period of...
- Bank administrator must notify parties of court-ordered time extension
Where the bank administrator intends to apply to the court...
- Send pre-termination report to all known creditors
(1) A bank administrator who wishes to publish a notice...
- Publish notice to bank members within 8 weeks of administration
(1) The bank administrator must send a copy of each...
- Send progress reports to creditors, court, and regulators within 28 days
End of administration: successful rescue
Other duties (1) — Crown / regulator
- Bank administrator must file notice and progress report to end successful rescue Crown / Minister / Government department
End of administration: dissolution
- File notice of no assets and apply for dissolution of bank administration
Browse 54 other sections — procedural / definitional / commencement
Citation
If the bank has notified the Bank of England of...
Statement of proposed bank administrator
Bank of England witness statement
Filing
Each filed copy— (a) shall have the seal of the...
Service
Service under rule 15 must be service of a sealed...
Service must be effected as soon as is reasonably practicable,...
(1) Service must be effected— (a) by personal service to...
(1) Service of the application shall be verified by a...
Commencement
Other notification
Venue
Hearing
The order
Notice of order
The Bank of England shall as soon as is reasonably...
Costs
Introduction
Bank administrator’s proposals: Objective 1 Stage
Extent
If the bank administrator thinks that the statement made under...
Where the bank administrator has made a statement under paragraph...
Reports to creditors
A progress report must be produced for—
(1) A bank administrator who fails to comply with Rules...
Removal of bank administrator in Objective 1 Stage
Interpretation
Appointment of provisional bank administrator
The application must be supported by a witness statement stating—...
If satisfied that sufficient grounds are shown for the appointment,...
An order appointing a provisional bank administrator must specify the...
If the court makes an order appointing a provisional bank...
(1) As soon as is reasonably practicable after appointment a...
The Bank of England may disclose the fact and terms...
Additional joint bank administrator
In these Rules— (a) “the FSCS” means the scheme manager...
Introduction
Title of proceedings
Right to inspect file
A right of inspection may be exercised on a person’s...
Any person may, with permission of the court, inspect the...
A right of inspection is not exercisable in the case...
Rule 7.28(2) and (3) of the Insolvency Rules 1986 (as...
Proceedings under sections 213 and 214 of the Insolvency Act...
General application
For that purpose the rules apply with—
Overview
General modifications
Table of applications and specific modifications
Forms
Introduction
Content of application
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