Rule 88 Creditors’ meeting to be notified of building society liquidator’s resignation

Apply rule 4.115 of the 1991 Rules.

For paragraph (1), substitute—

“(1)

Before resigning office, the building society liquidator shall obtain the consent of the Bank of England and shall call a meeting of creditors to notify them of this.”

After paragraph (1) insert—

“(1A)

The notice summoning the meeting shall indicate that this is the purpose, or one of the purposes, of the meeting and shall draw the attention of the creditors to rule 96 with respect to the building society liquidator’s release.

(1B)

The notice in paragraph (1A) shall enclose a copy of the Bank of England’s consent.”.

For paragraph (2) substitute—

“(2)

Copies of the notice and of the account mentioned in paragraph (3) shall be sent to the court, the Bank of England and the appropriate regulator.”.