# The Investment Bank Special Administration Regulations 2011, Regulation 5: Application


(1) An application to the court for a special administration order may be made to the court by—
(a) the investment bank;
(b) the directors of the investment bank;
(c) one or more creditors of the investment bank;
(d) the designated officer for a magistrates’ court in the exercise of the power conferred by section 87A of the Magistrates’ Courts Act 1980 (fines imposed on companies);
(e) (subject to paragraph (7)), a contributory of the investment bank;
(f) a combination of persons listed in sub-paragraphs (a) to (e);
(g) the Secretary of State; or
(h) the FSA.
(2) Where an application is made by a person other than the FSA, the FSA is entitled to be heard at—
(a) the hearing of the application for special administration; and
(b) any other hearing of the court in relation to the investment bank under these Regulations.
(3) An application must nominate a person to be appointed as the administrator.
(4) As soon as is reasonably practicable after making the application, the applicant shall notify—
(a) a person who gave notice to the FSA in accordance with Condition 1 of regulation 8; and
(b) such other persons as may be prescribed.
(5) An application may not be withdrawn without the permission of the court.
(6) In sub-paragraph (1)(c), “creditor” includes a contingent creditor and a prospective creditor.
(7) A contributory (“C”) is not entitled to make an application for special administration unless either—
(a) the number of members is reduced below 2; or
(b) the shares in respect of which C is a contributory, or some of them, either were originally allotted to C, or have been held by C and registered in C’s name, for at least 6 months during the 18 months before the commencement of the special administration, or have devolved on C through the death of a former holder.

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Source: https://www.legislation.gov.uk/ukdsi/2011/9780111505588/regulation/5 (the official version)
Page: https://openlegislation.uk/draft-investment-bank-special-administration-regulations-2011/regulation-5
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.