# The Investment Bank Special Administration (England and Wales) Rules 2011, Rule 119: Expenses of members

Extent: E+W

(1) Subject to paragraph (2), the administrator shall, out of the assets of the investment bank, defray, in the prescribed order of priority as set out in rule 134, any reasonable travelling expenses directly incurred by members of the creditors’ committee or their representatives in relation to their attendance at the committee’s meetings, or otherwise on the committee’s business, as an expense of the administration.
(2) Any client members of the committee shall have their expenses referred to in paragraph (1) paid out of the client assets held by the investment bank.
(3) Paragraph (1) does not apply to any meeting of the committee held within 6 weeks of a previous meeting, unless the meeting in question is summoned at the instance of the administrator.

---
Source: https://www.legislation.gov.uk/uksi/2011/1301/rule/119 (the official version)
Page: https://openlegislation.uk/investment-bank-special-administration-england-and-wales-rules-2011/rule-119
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.