109.—(1) The court may exclude a relevant funds claim or reduce the amount claimed—
(a)on the administrator’s application, where the administrator thinks that the relevant funds claim has been improperly admitted, or ought to be reduced, or
(b)on the application of a creditor or customer, if the administrator declines to interfere in the matter.
(2) Where an application is made to the court under this rule, the court must fix a venue for the application to be heard.
(3) The applicant must send notice of the venue fixed by the court under paragraph (2)—
(a)in the case of an application by the administrator, to the claimant who made the relevant funds claim, or
(b)in the case of an application by a customer or creditor, to the administrator and to the claimant who made the relevant funds claim (if the applicant is not the same customer).
(4) Except with the permission of the court, the administrator must not make a distribution out of the asset pool so long as there is pending any application to the court to reverse or vary the administrator’s decision on a relevant funds claim, or to reduce the amount claimed.
(5) If the court gives permission under paragraph (3), the administrator must make such provision in respect of the relevant funds claim in question as the court directs.
Commencement Information
I1Rule 109 in force at 12.11.2021, see rule 2