# The Building Society Special Administration (Scotland) Rules 2009, Article 23: Building society special administrator’s proposals: Objective 2 Stage


Where the special administrator has made a statement under paragraph 52(1) of Schedule B1 to the Insolvency Act (as applied by Table 1 in section 145 of the Banking Act) and has not called an initial meeting of creditors, the proposals issued in accordance with rule 20 above will be deemed to have been approved by the creditors (if no meeting has been requisitioned under paragraph 52(2) within the period set out in rule 7.6 of the 1986 Rules – as applied by rule 38 below).

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Source: https://www.legislation.gov.uk/uksi/2009/806/article/23 (the official version)
Page: https://openlegislation.uk/building-society-special-administration-scotland-rules-2009/article-23
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.