The Bank Insolvency (No. 2) Rules (Northern Ireland) 2009

PART 17 N.I. MISCELLANEOUS RULES

SECTION A N.I. RETURN OF CAPITAL

Application to court for order authorising return of capital N.I.

177.  Apply rule 4.231 of the 1991 Rules.

Commencement Information

I1 Rule 177 in operation at 1.4.2009, see rule 1(1)

Procedure for return of capital N.I.

178.  Apply rule 4.232 of the 1991 Rules.

Commencement Information

I2 Rule 178 in operation at 1.4.2009, see rule 1(1)

SECTION B N.I. CONCLUSION OF BANK INSOLVENCY

Department’s directions under section 116 of the 2009 Act N.I.

179.—(1) Where the Department gives a direction under section 116 of the 2009 Act (application by an interested person for postponement of dissolution) it shall send two copies of the direction to the applicant.

(2) Of those copies, one shall be sent by the applicant to the registrar of companies to comply with section 116(4) of the 2009 Act.

Commencement Information

I3 Rule 179 in operation at 1.4.2009, see rule 1(1)

Procedure following appeal under section 116 of the 2009 Act N.I.

180.  Following an appeal under section 116(2) of the 2009 Act (against a decision of the Department under the applicable section) the court shall send two sealed copies of its order to the person in whose favour the appeal was determined and that party shall send one of the copies to the registrar of companies.

Commencement Information

I4 Rule 180 in operation at 1.4.2009, see rule 1(1)

SECTION C N.I. LEAVE TO ACT AS DIRECTOR, ETC. OF BANK WITH PROHIBITED NAME (ARTICLE 180 OF THE ORDER)

Preliminary N.I.

181.  Apply rule 4.236 of the 1991 Rules.

Commencement Information

I5 Rule 181 in operation at 1.4.2009, see rule 1(1)

Application for leave under Article 180(3) before passing of full payment resolution N.I.

182.  Where an application for leave under Article 180(3) is made before a full payment resolution has been passed, it may only be made with the consent of the bank liquidator.

Commencement Information

I6 Rule 182 in operation at 1.4.2009, see rule 1(1)

Consideration of application for leave under Article 180(3) N.I.

183.  Apply rule 4.237 of the 1991 Rules.

Commencement Information

I7 Rule 183 in operation at 1.4.2009, see rule 1(1)

First excepted case N.I.

184.—(1) Apply rule 4.238 of the 1991 Rules.

(2) In paragraph (3)(b)(ii) ignore the reference to administrator.

Commencement Information

I8 Rule 184 in operation at 1.4.2009, see rule 1(1)

Second excepted case N.I.

185.—(1) Apply rule 4.239 of the 1991 Rules.

(2) In paragraph (b), the reference to Article 180(3) of the Companies Order should, after that Article is repealed, be to section 451 of the 2006 Act.(1).

Commencement Information

I9 Rule 185 in operation at 1.4.2009, see rule 1(1)

Third excepted case N.I.

186.—(1) Apply rule 4.240 of the 1991 Rules.

(2) In paragraph (a), for “liquidating company went into liquidation” substitute “bank went into bank insolvency”.

Commencement Information

I10 Rule 186 in operation at 1.4.2009, see rule 1(1)

Further exception N.I.

187.  The court’s leave under Article 180(3) of the Companies Order is not required in respect of anything done by a person in connection with the exercise of a stabilisation power under Part 1 of the 2009 Act.

Commencement Information

I11 Rule 187 in operation at 1.4.2009, see rule 1(1)

(1)

Article 180 is repealed on 1 October 2009.