Removal of bank liquidator by the courtN.I.
94.—(1) Apply rule 4.126 of the 1991 Rules.
(2) After paragraph (1) insert—
“(2A) If the liquidation committee has not yet passed a full payment resolution, the court shall dismiss any application under paragraph (1) where the application is made by someone other than the Bank of England, the [F1Financial Conduct Authority, the Prudential Regulation Authority] or the liquidation committee.”.
(3) In paragraph (2), for “at least 7 days’ notice” substitute—
“(a)if the application is made before the passing of a full payment resolution, such notice as is reasonable in all the circumstances, and
(b)if the application is made after the passing of a full payment resolution, at least 7 days’ notice.”.
(4) In paragraph (4), leave out “, at least 14 days before the hearing,”.
(5) After paragraph (4) insert—
“(4A) The notice and copies mentioned in paragraph (4) shall be sent—
(a)if the application is made before the passing of a full payment resolution, within such time so as to give the bank liquidator notice of the hearing as is reasonable in all the circumstances, and
(b)if the application is made after the passing of a full payment resolution, at least 14 days before the hearing.”.
(6) In paragraph (6)—
(a)in sub-paragraph (a), for “official receiver” substitute “Bank of England and [F2the appropriate regulator] ” and at the end insert “and”, and
(b)leave out “and” at the end of sub-paragraph (b), and sub–paragraph (c).
Textual Amendments
F1Words in rule 94(2) substituted (1.4.2013) by The Financial Services Act 2012 (Consequential Amendments and Transitional Provisions) Order 2013 (S.I. 2013/472), Sch. 2 para. 154(f)
F2Words in rule 94(6)(a) substituted (1.4.2013) by The Financial Services Act 2012 (Consequential Amendments and Transitional Provisions) Order 2013 (S.I. 2013/472), Sch. 2 para. 154(g)
Commencement Information
I1Rule 94 in operation at 1.4.2009, see rule 1(1)