Paragraph 9 Statement of proposals

(1)

The administrator shall send the statement to—

(a)

the FSA;

(b)

the FSCS;

(c)

the registrar of companies;

(d)

every creditor of the deposit-taking bank of whose claim and address the administrator is aware;

(e)

every member of the deposit-taking bank of whose address the administrator is aware; and

(f)

every client of the deposit-taking bank of whose claim the administrator is aware and of whom the administrator has a means of contacting.

(2)

The administrator shall comply with sub-paragraph (1) not later than 10 business days after—

(a)

obtaining the agreement of the Bank of England (and where the FSA has given a direction, the FSA); or

(b)

the court has made an order dispensing with the need for this agreement.

(3)

The administrator shall be taken to comply with sub-paragraph (1)(d) if the administrator publishes in the prescribed manner a notice undertaking to provide a copy of the statement of proposals free of charge to any member of the deposit-taking bank who applies in writing to a specified address.

(4)

The administrator shall also give notice in the prescribed manner that the statement of proposals is to be provided free of charge to a market infrastructure body which applies in writing to a specified address.

(5)

Sub-paragraphs (7) and (8) of paragraph 49 of Schedule B1 apply with the following modifications—

(a)

the reference in paragraph 49(7) to sub-paragraph (5) shall be a reference to sub-paragraph (2) of this paragraph;

(b)

the reference to “this paragraph” in paragraph 49(8) means this paragraph;

(c)

the reference to paragraph 107 is a reference to that paragraph as applied by section 145 of the Act and by paragraph 6(3).