OpenLegislation

Rule 128 Right of inspectionI1

England and Wales

(1)

So long as proxies lodged with the administrator are in the administrator’s hands, the administrator shall allow them to be inspected, at all reasonable times on any business day, by—

(a)

the creditors, in the case of proxies used at a meeting of creditors, or a meeting of creditors and clients;

(b)

the clients, in the case of proxies used at a meeting of clients, or a meeting of creditors and clients; and

(c)

the investment bank’s members or contributories, in the case of proxies used at a meeting of the company or of its contributories.

(2)

The reference in paragraph (1) to creditors or to clients is to persons who have submitted in writing a claim to be creditors or, as the case may be, clients of the investment bank, but does not include a person whose proof or claim has been wholly rejected for purposes of voting, dividend or otherwise.

(3)

The right of inspection given by this rule is also exercisable by the directors of the investment bank in special administration.

(4)

Any person attending a meeting in the course of the special administration is entitled, immediately before or during the meeting, to inspect proxies and associated documents (including proofs) sent or given, in accordance with directions contained in any notice convening the meeting, to the chair of that meeting or to any other person by a creditor, client, member or contributory for the purpose of that meeting.

(5)

This rule is subject to rule 320.

Annotations

Commencement

I1

Rule 128 in force at 30.6.2011, see rule 2