Rule 77 Composition of committee when creditors paid in fullI1

Scotland

(1)

Apply rule 4.59 of the 1986 Rules^f1.

(2)

In paragraph (5)—

(a)

at the beginning, insert “Subject to paragraph (5A) below”;

(b)

after “under paragraph (1)” insert “or since the FSCS has ceased to be on the committee”;

(c)

at the end, insert “subject to paragraph (5A) below”.

(3)

After paragraph (5), insert—

(4)

“(5A)
The liquidation committee continues to exist and can act so long as it consists of at least the FSCS.”.

Annotations

f1: Rule 4.59 was amended by paragraph 141(18) of Schedule 2(II) to S.I. 1999/1820.