{
  "url": "https://openlegislation.uk/building-society-special-administration-england-and-wales-rules-2010/rule-50",
  "json_url": "https://openlegislation.uk/building-society-special-administration-england-and-wales-rules-2010/rule-50.json",
  "legislation": "uksi/2010/2580",
  "legislation_title": "The Building Society Special Administration (England and Wales) Rules 2010",
  "legislation_url": "https://openlegislation.uk/building-society-special-administration-england-and-wales-rules-2010",
  "path": "rule/50",
  "kind": "rule",
  "number": "50",
  "heading": "End of special administration: successful rescue",
  "text": "(1) This Rule supplements section 153 of the Banking Act 2009 (successful rescue).\n(2) The special administrator’s application under paragraph 79 of Schedule B1 to the Insolvency Act (as applied by section 153 of the Banking Act 2009) (the “application”) must have attached to it a progress report for the period from the date of the previous report (or, if there was none, from the beginning of the special administration) and a statement indicating what the administrator thinks should be the next step for the society.\n(3) Before making the application the special administrator must send a copy of the application and the progress report referred to in paragraph 2 to—\n(a) the Bank of England,\n(b) the FCA and where relevant the PRA, and\n(c) the FSCS.\n(4) Notice under paragraph (3)(b) and (c) must be sent at least 7 days before the hearing of the application.\n(5) Within 5 business days of filing the application with the court, the special administrator must gazette a notice undertaking to provide a copy of the application to any creditor or shareholding member of the society.\n(6) The notice in paragraph (5) may also be published in such other manner as the special administrator thinks fit.\n(7) The application must certify compliance with the preceding paragraphs of this Rule.\n(8) If the court is satisfied that the conditions in section 153(1) of the Banking Act 2009 have been met it shall—\n(a) discharge the special administration order, and\n(b) notify the special administrator, who shall notify the FCA and where relevant the PRA.",
  "extent": "E+W",
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "F",
      "label": "F1",
      "text": "Words in rule 50 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. 190(11)"
    },
    {
      "type": "I",
      "label": "I1",
      "text": "Rule 50 in force at 15.11.2010, see rule 2"
    },
    {
      "type": "footnote",
      "label": "f1",
      "text": "Paragraph 32A of S.I. 2009/805, inserted by S.I. 2010/1189, modifies the application of section 153 of the Banking Act 2009."
    },
    {
      "type": "footnote",
      "label": "f2",
      "text": "S.I. 2009/805, as amended by S.I. 2010/1189, modifies the application of paragraph 79 of Schedule B1."
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/uksi/2010/2580/rule/50",
    "retrieved_at": "2026-10-29T02:27:28.460933+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}