# The Building Society Insolvency (Scotland) Rules 2010, Rule 44: Release of resigning or removed building society liquidator

Extent: S

(1) Where the building society liquidator’s resignation is notified to a meeting of creditors which has not resolved against release, the building society liquidator has release from when the resignation is effective under rule 43.
(2) Where—
(a) the building society liquidator is removed by the court following an application under rule 40;
(b) the Bank of England has refused to consent to the building society liquidator’s proposed resignation;
(c) the meeting of creditors held under rule 37 or 43 resolves against release;
(d) the building society liquidator ceases to be qualified to act as an insolvency practitioner; or
(e) the meeting of the liquidation committee held under rule 45 resolves against the building society liquidator being released,
the building society liquidator must apply to the Accountant of Court for his release.
(3) Where the Accountant of Court gives release under this rule, the Accountant of Court shall certify it accordingly, and send the certificate to the Accountant in Bankruptcy, FSA and the Bank of England.
(4) A copy of the certificate shall be sent by the Accountant of Court to the former building society liquidator, whose release is effective from the date of the certificate.

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Source: https://www.legislation.gov.uk/uksi/2010/2584/rule/44 (the official version)
Page: https://openlegislation.uk/building-society-insolvency-scotland-rules-2010/rule-44
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.