Search Legislation

The Building Society Insolvency (England and Wales) Rules 2010

 Help about what version

What Version

  • Latest available (Revised)
  • Original (As made)
 Help about opening options

Opening OptionsExpand opening options

Status:

This is the original version (as it was originally made). This item of legislation is currently only available in its original format.

Requisitioned meetings: reforming the liquidation committee

This section has no associated Explanatory Memorandum

46.—(1) Rule 4.57 of the 1986 Rules also applies where—

(a)the liquidation committee has ceased to exist at the end of the first meeting of creditors under rule 42 and no further steps have been taken to re-establish that committee; and

(b)the building society liquidator has been requested, by no less than one-tenth in value of the building society’s creditors, to summon a meeting for the purpose of re-establishing the liquidation committee.

(2) Where a meeting is requisitioned to re-establish the liquidation committee, the time periods set out in rule 4.57 of the 1986 Rules may be expedited by the building society liquidator at the request of the building society’s creditors.

(3) The building society liquidator shall give notice of the meeting to the FSA and Bank of England.

(4) Rule 42(1) and (2) shall apply at this meeting as if it were the first meeting of creditors.

Back to top

Options/Help

You have chosen to open The Whole Instrument without Schedules

The Whole Instrument without Schedules you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.

Would you like to continue?

You have chosen to open The Whole Instrument without Schedules as a PDF

The Whole Instrument without Schedules you have selected contains over 200 provisions and might take some time to download.

Would you like to continue?