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