Regulation 5 Information to be provided to the bank administrator appointed in the first 5 days of the bank administration

(1)

This regulation applies where—

(a)

the bank administrator has been appointed by the order, or

(b)

the bank administrator has been appointed to replace the bank administrator appointed by the order (or where joint administrators were appointed, to replace all of them) within 5 days of the order being made.

(2)

The classes of information that must be provided by the Bank of England to the bank administrator under section 148(2) of the Act, within the period of 5 days beginning with the day on which the bank administrator is appointed, are——

(a)

an estimate of the net value of the original bank,

(b)

an estimate of the net value of the bridge bank,

(c)

a list of assets and liabilities of the original bank that have been transferred to the bridge bank, including details of —

(i)

any charged assets and the creditors holding those charges,

(ii)

any contingent assets transferred to the bridge bank, and

(iii)

any liabilities (including contingent liabilities), and

(d)

details of any supplemental property transfers or reverse property transfers that have been made,

in each case as comprehensive as is reasonably possible and current as at the date it is provided.