The Payment and Electronic Money Institution Insolvency (England and Wales) Rules 2021 No. 1178

PART 12 E+W Provisions of general effect

CHAPTER 6 E+W Time limits and security

Time limits E+W

285.—(1) The provisions of CPR rule 2.8(1) apply, as regards computation of time, to anything required or authorised to be done by these Rules.

(2) The provisions of CPR rule 3.1(2)(a) apply so as to enable the court to extend or shorten the time for compliance with anything required or authorised to be done by these Rules.

Commencement Information

I1 Rule 285 in force at 12.11.2021, see rule 2

Administrator’s security E+W

286.—(1) Wherever under these Rules any person has to appoint or certify the appointment of an administrator, that person must, before making or certifying the appointment, be satisfied that the person appointed or to be appointed has security for the proper performance of that office.

(2) It is the duty of the creditors’ committee to review from time to time the adequacy of the administrator’s security.

(3) The cost of the administrator’s security must be paid as an expense of the proceedings.

Commencement Information

I2 Rule 286 in force at 12.11.2021, see rule 2

(1)

CPR rule 2.8 was amended by S.I. 2009/3390.