# The Insurers (Reorganisation and Winding Up) (Lloyd's) Regulations 2005, Regulation 28: Bankruptcy of a member: powers of reorganisation controller

Extent: E+W+S+N.I.

(1) This regulation applies if a person other than the reorganisation controller presents a petition to the court—
(a) under section 264 of the 1986 Act (or Article 238 of the 1989 Order) for a bankruptcy order to be made against an individual member;
(b) under section 5 of the Bankruptcy (Scotland) Act 1985 for the sequestration of the estate of an individual member; or
(c) under section 6 of that Act for the sequestration of the estate belonging to or held for or jointly by the members of an entity mentioned in subsection (1) of that section.
(2) The reorganisation controller is entitled to be heard—
(a) at the hearing of the petition, and
(b) at any other hearing in relation to the individual member or entity under–
(i) Part 9 of the 1986 Act,
(ii) Part 9 of the 1989 Order; or
(iii) the Bankruptcy (Scotland) Act 1985.
(3) In the case of a petition presented under Article 238 of the 1989 Order, a copy of the report prepared under Article 248 of that Order must also be sent to the reorganisation controller.
(4) The reorganisation controller, or a person appointed by him for the purpose, is entitled—
(a) to attend any meeting of the creditors of the individual member or entity;
(b) to attend any meeting of a committee established under section 301 of the 1986 Act (or Article 274 of the 1989 Order);
(c) to attend any meeting of commissioners held under paragraph 17 or 18 of Schedule 6 to the Bankruptcy (Scotland) Act; and
(d) to make representations as to any matter for decision at such a meeting.
(4A) The reorganisation controller is entitled to participate (but not vote) in a creditors’ decision procedure (within the meaning given by section 379ZA(11) of the 1986 Act) by which a decision about any matter is sought from the creditors of the member.
(5) In this regulation—
(a) references to an individual member include references to a former member who is an individual;
(b) “entity” means an entity which is a member or a former member.

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Source: https://www.legislation.gov.uk/uksi/2005/1998/regulation/28 (the official version)
Page: https://openlegislation.uk/insurers-reorganisation-and-winding-up-lloyds-regulations-2005/regulation-28
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.