PART 5Relevant funds claims
Debt in a foreign currency103
1
A relevant funds claim payable in a foreign currency must state the amount of the relevant funds claim in that currency.
2
The administrator must convert all such relevant funds claims into sterling at a single rate for each currency determined by the administrator by reference to the exchange rates prevailing on the date the institution entered special administration.
3
On the next occasion when the administrator communicates with the customers the administrator must advise them of any rate so determined.
4
A customer who considers that the rate determined by the administrator is unreasonable may apply to the court.
5
If on hearing the application the court finds that the rate is unreasonable it may itself determine the rate.