Rule 51 Replacement building society liquidatorI1
Scotland
Where the building society liquidator vacates office for any reason (including death) other than by removal by a meeting of creditors in accordance with rule 37, the Bank of England shall appoint a new building society liquidator as soon as practicable.
Where a building society liquidator has been removed by a meeting of creditors and no resolution has been passed by that meeting to appoint a new building society liquidator, the Bank of England shall appoint a new building society liquidator as soon as practicable.
The Bank of England shall lodge in court the document appointing the new building society liquidator (“the certificate of appointment ”) together with statements to the effect that the new building society liquidator—
is qualified to act as an insolvency practitioner in accordance with section 390f1 of the Insolvency Act; and
consents to act as the building society liquidator.
The Bank of England shall send a copy of the certificate of appointment to the building society.
The building society liquidator shall forward a copy of the certificate of appointment to F1the appropriate regulator and the Accountant in Bankruptcy.
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 51 in force at 15.11.2010, see rule 1
Footnotes
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Section 390 was amended by paragraph 16(1) and (2) of Schedule 4(II) to the Insolvency Act 2000 (c.39); paragraph 18 of Schedule 5 to the Adults with Incapacity (Scotland) Act 2000 (asp 4); paragraph 4 of Schedule 21 to the Enterprise Act 2002 (c.40); paragraph 31(3)(c) of Schedule 6 and paragraph 1 of Schedule 7 to the Mental Capacity Act 2005 (c.9); paragraph 18(3) of Schedule 1 to S.S.I. 2005/465; paragraph 3(3) of Schedule 1 to S.I. 2005/2078; paragraphs 1, 6(1),(2) and (3) of Schedule 20, Part 1, to the Tribunal, Courts and Enforcement Act 2007; and S.I. 2009/1941, art.2(1) .