The Bank Administration (Scotland) Rules 2009

Bank administrator’s proposals: Objective 2 Stage

26.—(1) Any bank administrator who wishes to publish a notice under paragraph 49(6) of Schedule B1 to the 1986 Act must publish the notice once in a newspaper which the bank administrator thinks most appropriate for ensuring that the notice comes to the attention of the bank’s members.

(2) The notice must—

(a) state the full name of the bank;

(b) state the full name and address of each bank administrator of the bank;

(c) give details of the appointment of the bank administrator; and

(d) specify an address to which members can write for a copy of the statement of proposals.

(3) The notice must be published as soon as is reasonably practicable after the bank administrator sends the statement of proposals to the bank’s creditors but no later than 8 weeks (or such other period as may be agreed by the creditors or as the court may order) from the date that the bank entered bank administration.