Rule 12 Amendments to the Bank Insolvency (England and Wales) Rules 2009

In rule 16—

(a)

in paragraph (3), for “sealed copy ”, substitute “copy”;

(b)

in paragraph (5)—

(i)

for “a sealed copy”, substitute “2 copies”,

(ii)

at the end of sub-paragraph (a) omit “(electronically or otherwise), and”, and

(iii)

at the end of sub-paragraph (b), substitute a semicolon for the full stop and add—

“(c)
if there is in force for the bank a voluntary arrangement under Part 1 of the 1986 Act, the supervisor of that arrangement; and

(d)
if an administrative receiver has been appointed in relation to the bank, that receiver,

in accordance with paragraph (5A);”;

(c)

after paragraph (5), insert—

“(5A)
One copy shall be sent electronically as soon as practicable and the other (a sealed copy) shall be sent by first class post on the business day on which the order is served on the bank.”; and

(d)

for paragraph (6) substitute—

“(6)
The bank liquidator—

(a)
shall cause notice of the order to be gazetted as soon as reasonably practicable; and

(b)
may advertise notice of the order in such other manner as the bank liquidator thinks fit.”.