Rule 2.18 Resignation from office

Changes not yet applied. Later legislation changes this provision in ways not yet written into the text below:

rule 1.12-1.16E applied 2016 asp 21 s. 14B (as inserted) by Insolvency (Regulation (EU) 2015/848) 2017 reg. 4(8)
Rules applied (with modifications) by Building Society Special Administration 2009 rule 38-41
Rules applied (with modifications) by Limited Liability Partnerships 2001 reg. 6(1)
Rules specified provisions applied (with modifications) by Collective Investment in Transferable Securities (Contractual Scheme) 2013 Sch. 4

(1)

The administrator may give notice of his resignation on grounds of ill health or because -Form 2.13 (Scot)

(a)

he intends ceasing to be in practice as an insolvency practitioner, or

(b)

there is some conflict of interest or change of personal circumstances, which precludes or makes impracticable the further discharge by him of the duties of administrator.

(2)

The administrator may, with the leave of the court, give notice of his resignation on grounds other than those specified in paragraph (1).

(3)

The administrator must give to the persons specified below at least 7 days' notice of his intention to resign, or to apply for the court's leave to do so -

(a)

if there is a continuing administrator of the company, to him;

(b)

if there is no such administrator, to the creditors' committee; and

(c)

if there is no such administrator and no creditors' committee, to the company and its creditors.