The Building Society Insolvency Rules (Northern Ireland) 2014

Appointment of provisional building society liquidator

20.—(1) An application to the court for the appointment of a provisional building society liquidator under Article 115 of the 1989 Order may be made—

(a) by the Bank of England,

(b) by the appropriate regulator, (with the consent of the Bank of England).

(2) The application shall be supported by an affidavit stating—

(a) the grounds upon which it is proposed that the provisional building society liquidator should be appointed;

(b) that the person to be appointed has consented to act;

(c) that the person to be appointed is qualified to act as an insolvency practitioner;

(d) whether to the applicant’s knowledge—

(i) there has been proposed or is in force for the society a voluntary arrangement under Part II of the 1989 Order, or

(ii) an administrative receiver is acting in relation to the society;

(e) the applicant’s estimate of the value of the assets in respect of which the provisional building society liquidator is to be appointed; and

(f) the functions the applicant wishes to be carried out by the provisional building society liquidator in relation to the society’s affairs.

(3) The court may on the application, if satisfied that sufficient grounds are shown for the appointment, make it on such terms as it thinks fit.