Rule 12 Order of appointment of provisional building society liquidatorI1

Scotland

(1)

The order of appointment of the provisional building society liquidator shall specify the functions to be carried out by the provisional building society liquidator in relation to the building society’s affairs.

(2)

The applicant shall, immediately after the order is made, send a certified copy of the order to—

(a)

the provisional building society liquidator;

(b)

the Bank of England, if the Bank of England is not the applicant;

(c)

F1the appropriate regulator, if the appropriate regulator is not the applicant; and

(d)

the FSCS,

and may also send to those persons an electronic copy of the certified copy order.

(3)

The provisional building society liquidator shall immediately after the order is made—

(a)

serve a certified copy of it on the building society and each director of the building society;

(b)

give notice of the appointment to the Accountant in Bankruptcy;

(c)

give notice of the appointment to any receiver of the whole or any part of the property of the building society;

(d)

if there is in force for the building society a voluntary arrangement under Part 1 of the Insolvency Act, give notice of the appointment to the supervisor of that arrangement; and

(e)

advertise the appointment in accordance with the directions of the court.

(4)

Service on a director may be effected electronically by sending it to the director’s work email address.

Annotations

Textual amendments

F1: Words in Rules substituted (1.4.2013) by The Financial Services Act 2012 (Consequential Amendments and Transitional Provisions) Order 2013 (S.I. 2013/472), art. 1(1), Sch. 2 para. 192(8)

Commencement

I1: Rule 12 in force at 15.11.2010, see rule 1