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The Bank Insolvency (Scotland) Rules 2009

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Power of court to set aside certain transactions

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55.—(1) Apply rule 4.38 of the 1986 Rules.

(2) In rule 4.38(2) of that Rule –

(a)leave out “either”;

(b)leave out “or” at the end of sub-paragraph (a); and

(c)after sub-paragraph (b) insert–

, or (c) it is shown to the court’s satisfaction that the transaction was entered into by the bank liquidator for the purpose of achieving Objective 1..

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