Rule 181 Notice of no dividend or no further dividendI1
England and Wales
If the administrator gives notice to creditors that no dividend (or as the case may be, no further dividend) can be declared, the notice shall contain a statement to the effect either—
that no funds have been realised; or
that the funds realised have already been distributed or used or allocated for defraying the expenses of administration.
The notice to creditors in paragraph (1) shall also be given to—
the F1FCA and, where the investment bank concerned is a PRA-authorised person, the PRA;
in a special administration (bank administration), the FSCS; and
in a special administration (bank administration), in a case where the Bank of England consented to a distribution, to the Bank of England.
Annotations
Textual amendments
- F1
Words in art. 181(2)(a) substituted (1.4.2013) by The Financial Services Act 2012 (Consequential Amendments and Transitional Provisions) Order 2013 (S.I. 2013/472), Sch. 2 para. 210(c)(d)(xvii) (with Sch. 2 para. 211)