Rule 184 Disqualification from dividendI1
England and Wales
If a creditor contravenes any provision of the Regulations or these Rules relating to the valuation of securities, the court may, on the application of the administrator, order that the creditor be wholly or partly disqualified from participation in any dividend.
Notice of an application under paragraph (1) shall be given by the administrator to the F1FCA and the FCA shall have the right to appear and be heard at the hearing of the application.
If the investment bank concerned is a PRA-authorised person, notice of an application under paragraph (1) shall also be given by the administrator to the PRA and the PRA shall have the right to appear and be heard at the hearing of the application.
Annotations
Textual amendments
- F1
Words in art. 184(2) 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(r)(i) (with Sch. 2 para. 211)
- F2
Art. 184(3) inserted (1.4.2013) by The Financial Services Act 2012 (Consequential Amendments and Transitional Provisions) Order 2013 (S.I. 2013/472), Sch. 2 para. 210(r)(ii) (with Sch. 2 para. 211)