{
  "url": "https://openlegislation.uk/draft-investment-bank-special-administration-regulations-2011/schedule-2/paragraph-16",
  "json_url": "https://openlegislation.uk/draft-investment-bank-special-administration-regulations-2011/schedule-2/paragraph-16.json",
  "legislation": "ukdsi/2011/9780111505588",
  "legislation_title": "The Investment Bank Special Administration Regulations 2011",
  "legislation_url": "https://openlegislation.uk/draft-investment-bank-special-administration-regulations-2011",
  "path": "schedule/2/paragraph/16",
  "kind": "paragraph",
  "number": "16",
  "heading": "Ending of special administration (bank administration) (dissolution or voluntary arrangement",
  "text": "(1) This section applies if—\n(a) the Bank of England has given an Objective A Achievement Notice;\n(b) the administrator believes that Objectives 1 and 2 have been sufficiently achieved; and\n(c) the administrator pursues the second part of Objective 3 (as set out in regulation 10(1)(c)(ii)).\n(2) The administrator may—\n(a) give a notice under paragraph 84 of Schedule B1 (as applied by regulation 15); or\n(b) make a proposal in accordance with Part 1 of the Insolvency Act (company voluntary arrangement).\n(3) Part 1 of the Insolvency Act shall apply to a proposal made by an administrator with the following modifications—\n(a) in section 3 (summoning of meetings), subsection (2) (and not (1)) applies;\n(b) the action that may be taken by a court under section 5(3) (effect of approval) includes suspension of the special administration order; and\n(c) on the termination of a company voluntary arrangement the administrator may apply to the court to lift the suspension of the special administration order.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukdsi/2011/9780111505588/schedule/2/paragraph/16",
    "retrieved_at": "2026-10-30T14:54:21.376569+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."
}