The Payment and Electronic Money Institution Insolvency (England and Wales) Rules 2021

Limited disclosure E+W

22.—(1) Where the administrator thinks that it would prejudice the conduct of the special administration (or might reasonably be expected to lead to violence against any person) for the whole or part of a statement of affairs or a statement of concurrence to be disclosed, the administrator may apply to the court for an order of limited disclosure in respect of the whole or any part of a statement of affairs or a statement of concurrence.

(2) The court may, on such application, order that the statement of affairs or any statement of concurrence or, as the case may be, a specified part of either must not be filed with the registrar of companies.

(3) The administrator must, as soon as is reasonably practicable, deliver a copy of the order, the statement of affairs and any statement of concurrence (to the extent provided by the order) to the registrar of companies.

(4) If a creditor or a customer seeks disclosure of a statement of affairs, a statement of concurrence or a specified part of either in relation to which an order has been made under this rule, that person may apply to the court for an order that the administrator disclose it or a specified part of it.

(5) An application under paragraph (4) must be supported by written evidence in the form of a witness statement.

(6) The applicant must give the administrator notice of the application at least three business days before the hearing.

(7) The court may make any order for disclosure subject to [F1 such] conditions as to:

(a) confidentiality,

(b) duration,

(c) the scope of the order in the event of any change of circumstances, or

[F2 (d) other matters,

as it thinks just.]

(8) If there is a material change in circumstances rendering the limit on disclosure or any part of it unnecessary, the administrator must, as soon as is reasonably practicable after the change, apply to the court for the order or any part of it to be rescinded.

(9) The administrator must, as soon as is reasonably practicable after the making of an order under paragraph (8), file a copy of the statement of affairs and any statement of concurrence to the extent provided by the order with the registrar of companies.

(10) When the statement of affairs or a statement of concurrence is filed in accordance with paragraph (9), the administrator must, where they have sent a statement of proposals under paragraph 49, provide the creditors and the customers with a copy or summary of the statement of affairs and any statement of concurrence as filed.

(11) The provisions of CPR Part 31(1) do not apply to an application under this rule.

Textual Amendments

F1 Word in rule 22(7) substituted (10.8.2022) by The Payment and Electronic Money Institution Insolvency (England and Wales) (Amendment) Rules 2022 (S.I. 2022/847), rules 1(2), 2(2)(a)

F2 Rule 22(7)(d) and words substituted for rule 22(7)(d) (10.8.2022) by The Payment and Electronic Money Institution Insolvency (England and Wales) (Amendment) Rules 2022 (S.I. 2022/847), rules 1(2), 2(2)(b)

Commencement Information

I1 Rule 22 in force at 12.11.2021, see rule 2

(1)

Part 31 was substituted by S.I. 2008/2178.