UK Statutory Instrument SI 2011/1301 United Kingdom

The Investment Bank Special Administration (England and Wales) Rules 2011

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 Officer2 Client1 Any Person1 Applicant1 Trader1

Plus 1 duty 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
Client — also bound by 62 other Acts
Any Person — also bound by 2340 other Acts
Applicant — also bound by 307 other Acts
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 130 Company representation Regulated
  • Produce evidence of authority to represent a corporation at meetingsTrader
s.rule 142 New administrator appointed Regulated
  • Former administrator must transfer all claims to new administratorDirector or Officer
s.rule 155 New administrator appointed Regulated
  • Outgoing administrator must transfer all proofs of debt to the new administratorDirector or Officer
s.rule 23 Certificate of compliance Regulated
  • File certificate of compliance and administrator's witness statement before hearingApplicant
s.rule 87 Calculation of voting rights (creditors) Regulated
  • Chair must calculate creditor voting rights correctlyAny Person
s.rule 90 Entitlement to vote (clients) Regulated
  • Submit your client asset claim before the voting meeting deadlineClient
s.rule 97 Correspondence instead of meetings Regulated
Other duties (1) — Crown / regulator
  • Administrator must manage written resolution process for creditors, clients and contributoriesStatutory regulator
327 other provisions — procedural and definitional
s.rule 1 Citation
s.rule 10 Service of application
s.rule 100 Indication to excluded person
s.rule 101 Complaint
s.rule 102 Minutes
s.rule 103 Returns or reports of meetings
s.rule 104 Constitution of committee
s.rule 105 Formalities of establishment
s.rule 106 Functions and meetings of the committee
s.rule 107 The chair at meetings
s.rule 108 Quorum
s.rule 109 Committee members’ representatives
s.rule 11 Proof of service
s.rule 110 Resignation
s.rule 111 Termination of membership
s.rule 112 Removal
s.rule 113 Vacancies
s.rule 114 Procedure at meetings
s.rule 115 Remote attendance at meetings of creditors’ committee
s.rule 116 Procedure for requests that a place for a meeting should be specified
s.rule 117 Resolutions of creditors’ committees by post
s.rule 118 Information from administrator
s.rule 119 Expenses of members
s.rule 12 Further notification
s.rule 120 Members dealing with the investment bank
s.rule 121 Formal defects
s.rule 122 Content of progress report
s.rule 123 Sending progress report
s.rule 124 Definition of proxy
s.rule 125 Issue and use of forms
s.rule 126 Use of proxies at meetings
s.rule 127 Retention of proxies
s.rule 128 Right of inspection
s.rule 129 Proxy holder with financial interest
s.rule 13 The hearing
s.rule 131 Application to dispose of charged property
s.rule 132 Application in a special administration (bank administration)
s.rule 133 Expenses of voluntary arrangement
s.rule 134 Expenses to be paid out of the investment bank’s assets
s.rule 135 Expenses to be paid out of the client assets
s.rule 136 Pre-administration costs
s.rule 137 Allocation of expenses to be paid from client assets
s.rule 138 Notice of the bar date
s.rule 139 Content of claim for client assets
s.rule 14 The special administration order
s.rule 140 Content of claim in respect of security interest
s.rule 141 Costs of making a claim
s.rule 143 Notifying potential claimants after bar date has passed
s.rule 144 Distribution plan
s.rule 145 Approval by the creditors’ committee
s.rule 146 Approval by the court
s.rule 147 Treatment of late claimants
s.rule 148 Distribution to creditors
s.rule 149 Debts of investment bank to rank equally
s.rule 15 Costs
s.rule 150 Supplementary provisions as to dividend
s.rule 151 Division of unsold assets
s.rule 152 Proving a debt
s.rule 153 Costs of proving
s.rule 154 Administrator to allow inspection of proofs
s.rule 156 Admission and rejection of proofs for dividend
s.rule 157 Appeal against decision on proof
s.rule 158 Withdrawal or variation of proof
s.rule 159 Expunging of proof by the court
s.rule 16 Notice of special administration order
s.rule 160 Estimate of quantum
s.rule 161 Negotiable instruments
s.rule 162 Secured creditors
s.rule 163 Discounts
s.rule 164 Mutual credit and set-off
s.rule 165 Application of rule 164 in a special administration (bank administration) and special administration (bank insolvency)
s.rule 166 Debt in a foreign currency
s.rule 167 Payments of a periodical nature
s.rule 168 Interest
s.rule 169 Debt payable at a future time
s.rule 17 Filing of application
s.rule 170 Value of security
s.rule 171 Surrender for non-disclosure
s.rule 172 Redemption by administrator
s.rule 173 Test of security’s value
s.rule 174 Realisation of security by creditor
s.rule 175 Notice of proposed distribution
s.rule 176 Admission or rejection of proofs
s.rule 177 Postponement or cancellation of dividend
s.rule 178 Declaration of a dividend
s.rule 179 Notice of declaration of a dividend
s.rule 18 Service of application
s.rule 180 Payments of dividend and related matters
s.rule 181 Notice of no dividend or no further dividend
s.rule 182 Proof altered after payment of dividend
s.rule 183 Secured creditors
s.rule 184 Disqualification from dividend
s.rule 185 Assignment of right to dividend
s.rule 186 Debt payable at a future time
s.rule 187 General powers
s.rule 188 Powers of disclaimer
s.rule 189 Communication of disclaimer to persons interested
s.rule 19 Proof of service
s.rule 190 Additional notices
s.rule 191 Records
s.rule 192 Application by interested party
s.rule 193 Interest in property to be declared on request
s.rule 194 Disclaimer presumed valid and effective
s.rule 195 Application for the exercise of court’s powers under section 181
s.rule 196 Fixing of remuneration
s.rule 197 Remuneration (special administration (bank insolvency))
s.rule 198 Remuneration (special administration (bank administration)
s.rule 199 Recourse to meeting of creditors and clients
s.rule 2 Commencement
s.rule 20 Other persons to receive copy of application
s.rule 200 Recourse to the court
s.rule 201 Creditors’ and clients’ request for further information
s.rule 202 Claim that remuneration is excessive
s.rule 203 Review of remuneration
s.rule 204 Remuneration of new administrator
s.rule 205 Apportionment of set fee remuneration
s.rule 206 Grounds for resignation
s.rule 207 Notice of intention to resign
s.rule 208 Notice of resignation
s.rule 209 Application to court to remove administrator from office
s.rule 21 Verification of application
s.rule 210 Notice of vacation of office when administrator ceases to be qualified
s.rule 211 Administrator deceased
s.rule 212 Application to replace (special administration)
s.rule 213 Application to replace (special administration (bank insolvency))
s.rule 214 Application to replace (special administration (bank administration))
s.rule 215 Notification and advertisement of appointment of replacement administrator
s.rule 216 Notification and advertisement of appointment of joint administrator
s.rule 217 Additional joint administrator (special administration (bank administration))
s.rule 218 Notification of new administrator
s.rule 219 Administrator’s duties on vacating office
s.rule 22 Persons entitled to copy of application
s.rule 220 Final progress reports
s.rule 221 Application to court by administrator
s.rule 222 Application to court by creditor
s.rule 223 Notification by administrator of court order
s.rule 224 Moving from administration to dissolution
s.rule 225 Principal court rules and practice to apply
s.rule 226 Shorthand writers – nomination, appointment, remuneration and costs
s.rule 227 Court file
s.rule 228 Office copies of documents
s.rule 229 Payments into court
s.rule 230 Further information and disclosure
s.rule 231 Witness statements – general
s.rule 232 Filing and service of witness statements
s.rule 233 Evidence provided by the administrator
s.rule 234 Application of Chapter
s.rule 235 Service of court documents within the jurisdiction
s.rule 236 Service of court documents outside jurisdiction
s.rule 237 Service of orders staying proceedings
s.rule 238 Service on joint office-holders
s.rule 239 Application of Chapter
s.rule 24 Leave for the applicant to withdraw
s.rule 240 Form and contents of application
s.rule 241 Filing and service of application
s.rule 242 Directions
s.rule 243 Hearings without notice
s.rule 244 Hearing of application
s.rule 245 Adjournment of the hearing of an application
s.rule 246 Application of Chapter
s.rule 247 Applications under section 176A(5) to disapply section 176A
s.rule 248 Notice of application under section 176A(5)
s.rule 249 Notice of an order under section 176A(5)
s.rule 25 Witness statement in opposition
s.rule 250 Application of following rules
s.rule 251 Form and contents of application
s.rule 252 Order for examination etc.
s.rule 253 Procedure for examination
s.rule 254 Record of examination
s.rule 255 Costs of proceedings under section 236
s.rule 256 Application of Chapter 8
s.rule 257 Appointment of another person to act
s.rule 258 Witness statement in support of application
s.rule 259 Service of notices following appointment
s.rule 26 Making, transmission and advertisement of order
s.rule 260 Formal defects
s.rule 261 Application of Chapter 10
s.rule 262 Requirement to assess costs by the detailed procedure
s.rule 263 Procedure where detailed assessment is required
s.rule 264 Costs of officers charged with execution of writs or other process
s.rule 265 Costs paid otherwise than out of the investment bank’s estate
s.rule 266 Award of costs against the administrator
s.rule 267 Applications for costs
s.rule 268 Costs and expenses of witnesses
s.rule 269 Final costs certificate
s.rule 27 Special administration (bank insolvency) order
s.rule 270 Enforcement of court orders
s.rule 271 Orders enforcing compliance with the Rules
s.rule 272 Warrants (general provisions)
s.rule 273 Warrants under section 236
s.rule 274 Application of Chapter 12
s.rule 275 Appeals and reviews of court orders
s.rule 276 Procedure on appeal
s.rule 277 Appeal against decision of the Secretary of State
s.rule 278 Preliminary
s.rule 279 Application for permission under section 216(3)
s.rule 28 Authentication of administrator’s appointment
s.rule 280 First excepted case
s.rule 281 Second excepted case
s.rule 282 Third excepted case
s.rule 283 Costs, expenses etc
s.rule 284 Provable debts
s.rule 285 False claim of status as creditor, etc
s.rule 286 Punishment of offences
s.rule 287 Application
s.rule 288 Personal delivery
s.rule 289 Postal delivery of documents
s.rule 29 Duties of Objective A committee
s.rule 290 Notice etc to solicitors
s.rule 291 Application
s.rule 292 The form
s.rule 293 Proof of sending
s.rule 294 Authentication
s.rule 295 Electronic delivery - general
s.rule 296 Electronic delivery by administrator
s.rule 297 Use of websites by administrator
s.rule 298 Special provision on account of expense as to website use
s.rule 299 Electronic delivery of special administration documents to court
s.rule 3 Extent
s.rule 30 Appointment of person under section 135
s.rule 300 Notice etc to joint administrators
s.rule 301 Execution overtaken by judgment debtor’s insolvency
s.rule 302 Notice to enforcement officers
s.rule 303 Electronic submission of information
s.rule 304 Electronic submission of information where rule 303 does not apply
s.rule 305 Contents of notices to be gazetted
s.rule 306 Gazette notices relating to companies
s.rule 307 Omission of unobtainable information
s.rule 308 The Gazette – general
s.rule 309 Notices otherwise advertised under the Regulations or Rules
s.rule 31 Notice of appointment
s.rule 310 Non-Gazette notices
s.rule 311 Non-Gazette notices – other provisions
s.rule 312 Application of Chapter 4
s.rule 313 Information to be contained in all notifications to the registrar
s.rule 314 Notification relating to the administrator
s.rule 315 Notifications relating to documents
s.rule 316 Notifications relating to court orders
s.rule 317 Notifications relating to other events
s.rule 318 Notifications of more than one nature
s.rule 319 Notifications made to other persons at the same time
s.rule 32 Order of appointment
s.rule 320 Confidentiality of documents – grounds for refusing inspection
s.rule 321 Right to copy documents
s.rule 322 Charges for copy documents
s.rule 323 Right to have list of creditors
s.rule 324 Time limits
s.rule 325 Administrator’s security
s.rule 326 Proceedings commenced in the wrong court
s.rule 327 Proceedings other than special administration commenced
s.rule 328 Introduction
s.rule 329 “The court”; “the registrar”
s.rule 33 Security
s.rule 330 Venue
s.rule 331 Insolvent estate
s.rule 332 The appropriate fee
s.rule 333 “Debt”; “liability”
s.rule 334 Application of the 1986 Act and the Company Directors Disqualification Act
s.rule 34 Failure to give or keep up security
s.rule 35 Remuneration
s.rule 36 Termination of appointment
s.rule 37 Content of application
s.rule 38 Statement of proposed administrator
s.rule 39 Bank of England witness statement
s.rule 4 Interpretation
s.rule 40 Filing
s.rule 41 Service
s.rule 42 Other notification
s.rule 43 Venue
s.rule 44 Hearing
s.rule 45 Special administration (bank administration) order
s.rule 46 Costs
s.rule 47 Notice of order
s.rule 48 Remuneration of the administrator
s.rule 49 Appointment of person under section 135
s.rule 5 Application of rules
s.rule 50 Order of appointment
s.rule 51 Notification and advertisement of administrator’s appointment
s.rule 52 Notice requiring statement of affairs
s.rule 53 Details of the client assets held by the investment bank
s.rule 54 Verification and filing
s.rule 55 Limited disclosure
s.rule 56 Release from duty to submit statement of affairs
s.rule 57 Expenses of statement of affairs
s.rule 58 Submission of accounts
s.rule 59 Administrator’s proposals
s.rule 6 Content of application
s.rule 60 Limited disclosure of the statement of proposals
s.rule 61 Initial meeting
s.rule 62 Notice to officers
s.rule 63 Business of the initial meeting
s.rule 64 Adjournment of meeting to approve the statement of proposals
s.rule 65 Revision of the statement of proposals
s.rule 66 Meeting to approve the revised statement of proposals
s.rule 67 Notice to creditors and clients
s.rule 68 Meetings generally
s.rule 69 Venue
s.rule 7 Statement of proposed administrator
s.rule 70 Notice of meeting by individual notice: when and where sent
s.rule 71 Notice of meeting by individual notice: content and accompanying documents
s.rule 72 Notice of meeting by advertisement only
s.rule 73 Content of notice for meetings
s.rule 74 Gazetting and advertisement of meetings
s.rule 75 Non-receipt of notice of meeting
s.rule 76 Requisition of meetings
s.rule 77 Expenses of requisitioned meetings
s.rule 78 Quorum at meetings
s.rule 79 Chair at meetings
s.rule 8 Witness statement in support of application
s.rule 80 Adjournment by chair
s.rule 81 Adjournment in absence of chair
s.rule 82 Claims, proofs and proxies in adjournment
s.rule 83 Suspension
s.rule 84 Venue and conduct of company meetings
s.rule 85 Entitlement to vote (creditors)
s.rule 86 FSCS and voting rights
s.rule 88 Calculation of voting rights: special cases (creditors)
s.rule 89 Procedure for admitting creditors’ claims for voting
s.rule 9 Filing of application
s.rule 91 Calculation of voting rights (clients)
s.rule 92 Procedure for admitting clients’ claims for voting
s.rule 93 Voting at meetings of creditors and clients
s.rule 94 Requisite majorities
s.rule 95 Requisite majorities at contributories’ meetings
s.rule 96 Appeals against decisions under this Chapter
s.rule 98 Remote attendance at meetings conducted in accordance with section 246A
s.rule 99 Action where person excluded

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