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There are currently no known outstanding effects for the The Bank Insolvency (No. 2) Rules (Northern Ireland) 2009, PART 3.
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20.—(1) This rule applies after an application for a bank insolvency order has been filed under rule 7 and before that order is made.
(2) An application to the court for the appointment of a provisional bank liquidator under Article 115 of the Order may be made—
(a)by the Bank of England;
[F1(b)by the Financial Conduct Authority, with the consent of the Bank of England;
(ba)if the bank is a PRA-authorised person (within the meaning of the Financial Services and Markets Act 2000), by the Prudential Regulation Authority, with the consent of the Bank of England; or]
(c)by the Department.
(3) The application must be supported by a witness statement stating—
(a)the grounds upon which it is proposed that the provisional bank liquidator should be appointed;
(b)that the person to be appointed has consented to act,
(c)that the person to be appointed is qualified to act as an insolvency practitioner,
(d)whether to the applicant’s knowledge—
(i)there has been proposed or is in force for the bank a company voluntary arrangement under Part II of the Order; or
(ii)an administrative receiver is acting in relation to the bank.
(e)the applicant’s estimate of the value of the assets in respect of which the provisional bank liquidator is to be appointed; and
(f)the functions the applicant wishes to be carried out by the provisional bank liquidator in relation to the bank’s affairs.
(4) The court may on the application, if satisfied that sufficient grounds are shown for the appointment, make it on such terms as it thinks fit.
Textual Amendments
F1Rule 20(2)(b)(ba) substituted for rule 20(2)(b) (1.4.2013) by The Financial Services Act 2012 (Consequential Amendments and Transitional Provisions) Order 2013 (S.I. 2013/472), Sch. 2 para. 154(d)
Commencement Information
I1Rule 20 in operation at 1.4.2009, see rule 1(1)
21. Where a provisional bank liquidator has been appointed, the court shall notify the applicant and the person appointed.
Commencement Information
I2Rule 21 in operation at 1.4.2009, see rule 1(1)
22.—(1) The order of appointment shall specify the functions to be carried out by the provisional bank liquidator in relation to the bank’s affairs.
(2) The court shall, immediately after the order is made, send 4 sealed copies of the order (or such larger number as the provisional bank liquidator may have requested), to the provisional bank liquidator.
(3) The court shall also, if practicable, immediately send a copy of the sealed order to the bank liquidator electronically.
(4) The provisional bank liquidator shall serve a sealed copy of the order on the bank at its registered office and, where the provisional bank liquidator knows the bank’s email address, will send an electronic copy to the bank.
(5) The bank liquidator shall send a sealed copy of the order—
(a)to the Bank of England, the FSA, and the FSCS (electronically or otherwise); and
(b)to the registrar of companies;
(c)(if applicable) to any administrative receiver of the bank.
Commencement Information
I3Rule 22 in operation at 1.4.2009, see rule 1(1)
23. Apply rule 4.031 of the 1991 Rules.
Commencement Information
I4Rule 23 in operation at 1.4.2009, see rule 1(1)
24. Apply rule 4.032 of the 1991 Rules.
Commencement Information
I5Rule 24 in operation at 1.4.2009, see rule 1(1)
25.—(1) Apply rule 4.033 of the 1991 Rules.
(2) Delete paragraph (5).
Commencement Information
I6Rule 25 in operation at 1.4.2009, see rule 1(1)
26.—(1) Apply rule 4.034 of the 1991 Rules.
(2) After paragraph (2) insert—
“(3) On the making of a bank insolvency order the appointment of the provisional bank liquidator shall terminate.”.
Commencement Information
I7Rule 26 in operation at 1.4.2009, see rule 1(1)
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