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The Credit Institutions (Reorganisation and Winding up) Regulations 2004

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Changes over time for: Section 6

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Version Superseded: 31/12/2020

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Point in time view as at 23/04/2019. This version of this provision has been superseded. Help about Status

Changes to legislation:

The Credit Institutions (Reorganisation and Winding up) Regulations 2004, Section 6 is up to date with all changes known to be in force on or before 02 November 2024. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations. Help about Changes to Legislation

Confirmation by the court of a creditors' voluntary winding upU.K.

6.—(1) [F1Rule 21.4] of the Insolvency Rules or Rule 7.56 of the Insolvency Rules (Northern Ireland) applies in relation to a UK credit institution with the modification specified in paragraph (2) or (3).

[F2(2) For the purposes of this regulation, rule 21.4 of the Insolvency Rules has effect as if after paragraph (2) there were inserted—

(2A) Where the company is a UK credit institution (within the meaning given in regulation 2(1) of the Credit Institutions (Reorganisation and Winding up) Regulations 2004), paragraph (2) does not apply, but the liquidator may apply to court for an order confirming the winding up as a creditors’ voluntary winding up for the purposes of Articles 10 and 28 of directive 2001/24/EC of the European Parliament and of the Council of 4th April 2001 on the reorganisation and winding up of credit institutions.].

(3) For the purposes of this regulation, Rule 7.56 of the Insolvency Rules (Northern Ireland) has effect as if there were substituted for paragraph (1)—

(1) Where a UK credit institution (within the meaning of the Credit Institutions (Reorganisation and Winding up) Regulations 2004) has passed a resolution for voluntary winding up, and no declaration under Article 75 has been made, the liquidator may apply to court for an order confirming the creditors' voluntary winding up for the purposes of Articles 10 and 28 of directive 2001/24/EC of the European Parliament and of the Council of 4 April 2001 on the reorganisation and winding up of credit institutions..

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