1. Introductory Text

  2. 1.Citation

  3. 2.Commencement

  4. 3.Extent

  5. 4.Overview

  6. 5.Application: Scottish LLPs and partnerships

  7. 6.Definitions

  8. 7.Special administration order

  9. 8.Application for order

  10. 9.Grounds for applying

  11. 10.Powers of the court

  12. 11.Notice to FCA: other proceedings

  13. 12.Special administration objectives

  14. 13.Objective 1: initial reconciliation

  15. 14.Objective 1: constitution of asset pool

  16. 15.Objective 1: monitoring and maintaining asset pool

  17. 16.Objective 1: post-administration receipts

  18. 17.Objective 1: determining claim entitlements

  19. 18.Objective 1: principles of distribution

  20. 19.Objective 1: shortfalls in asset pool

  21. 20.Objective 1: bar date

  22. 21.Objective 1: hard bar date

  23. 22.Objective 1: hard bar date: powers of the court

  24. 23.Objective 1: interest on relevant funds claims

  25. 24.Objectives 1 and 3: transfer arrangements: overview

  26. 25.Objectives 1 and 3: TAs: Conditions 1 to 3

  27. 26.Objectives 1 and 3: TAs: effect

  28. 27.Objectives 1 and 3: TAs: novation of contracts

  29. 28.Objectives 1 and 3: TAs: disclosure of information

  30. 29.Objectives 1 and 3: PPTAs: Condition 4 and restrictions

  31. 30.Objectives 1 and 3: PPTAs: reverse transfers

  32. 31.Objectives 1 and 3: PPTAs: set-off and netting

  33. 32.Objectives 1 and 3: PPTAs: security interests

  34. 33.Objectives 1 and 3: PPTAs capital markets arrangements

  35. 34.Objectives 1 and 3: PPTAs: financial markets

  36. 35.Objective 2: engagement: payment systems, market disruption and consumer protection

  37. 36.Continuity of supply

  38. 37.Application of the IA 1986 in England, Wales and Scotland

  39. 37A.Application of the I(NI)O 1989 and related insolvency legislation in Northern Ireland

  40. 38.FCA direction

  41. 39.Administrator’s proposals in the event of FCA direction

  42. 40.Revision of proposals in the event of FCA direction

  43. 41.FCA direction withdrawn

  44. 42.Safeguarding failures: costs of the administration

  45. 43.Successful rescue

  46. 44.Dissolution or voluntary arrangement

  47. 45.Special administration order as an alternative order

  48. 46.Disqualification of directors : Great Britain

  49. 46A.Disqualification of directors: Northern Ireland

  50. 47.Further provision on special administration: schedules

  51. 48.FSMA 2000, Pt 24: application to payment and electronic money institution insolvency except special administration

  52. 49.Correction of defect in instrument relating to the UK’s withdrawal from the EU and bank recovery and resolution

  53. Signature

    1. SCHEDULE 1

      How special administration applies to English/Welsh /Scottish LLPs

      1. 1.This Schedule makes provision about how special administration applies to...

      2. 2.In this Schedule— (a) the “ LLPR 2001 ” means...

      3. 3.The provisions of the IA 1986 mentioned in the first...

      4. 4.The CDDA 1986 as applied and modified by these Regulations...

      5. 5.The following legislation applies to institutions which are formed as...

    2. SCHEDULE 1A

      How special administration applies to Northern Ireland LLPs

      1. 1.This Schedule makes provision about how special administration applies to...

      2. 2.In this Schedule “ LLPR (NI) 2004 ” means the...

      3. 3.The provisions of the I(NI)O 1989 mentioned in the first...

      4. 4.The CDD(NI)O 2002 as applied and modified by these Regulations...

      5. 5.The following legislation applies to institutions which are formed as...

    3. SCHEDULE 2

      How special administration applies to English/Welsh partnerships

      1. 1.This Schedule makes provision about how special administration applies to...

      2. 2.In this Schedule, the “IPO 1994” means the Insolvent Partnerships...

      3. 3.Where an institution is formed as a partnership, then—

      4. 4.Table 2 sets out— (a) in the first column, versions...

      5. 5.Each IPO 1994 version in the first column of Table...

      6. 6.Where there is an entry for an IPO 1994 version...

      7. 7.Article 16 of the IPO 1994 applies to an institution...

      8. 8.The general modifications are— (i) references to a provision of...

      9. 9.Article 18 of and Schedule 10 to the IPO 1994...

    4. SCHEDULE 2A

      How special administration applies to Northern Ireland partnerships

      1. 1.This Schedule makes provision about how special administration applies to...

      2. 2.In this Schedule “ IPO (NI) 1995 ” means the...

      3. 3.Where an institution is formed as a partnership, then—

      4. 4.Table 2 sets out— (a) in the first column, versions...

      5. 5.Each IPO (NI) 1995 version in the first column of...

      6. 6.Where there is an entry for an IPO (NI) 1995...

      7. 7.Article 16 of the IPO (NI) 1995 applies to an...

      8. 8.The general modifications are— (a) references to a provision of...

      9. 9.Article 18 of and Schedule 10 to the IPO (NI)...

    5. SCHEDULE 3

      Further provision about how other legislation applies to companies in special administration

      1. 1.Introduction

      2. 2.General modifications

      3. 3.References to— (a) a Schedule B1 administrator are to be...

      4. 4.Pensions Act 2004 and the Pensions (Northern Ireland) Order 2005

      5. 5.CA 2006

      6. 6.Land Registration Rules

    6. SCHEDULE 4

      Consequential amendments

      1. PART 1 Primary legislation

        1. 1.The Companies Act 1985

        2. 2.The Finance Act 1986

        3. 3.The Third Parties (Rights against Insurers) Act 2010

      2. PART 2 Secondary legislation

        1. 4.The EMR 2011

        2. 5.The IBSAR 2011

        3. 6.The PSR 2017

  55. Explanatory Note