# The Investment Bank Special Administration (England and Wales) Rules 2011, Rule 187: General powers

Extent: E+W

(1) Any permission given by the creditors’ committee (or if there is no such committee, a meeting of the company’s creditors and clients or the court under the Rules), shall not be a general permission but shall relate to a particular proposed exercise of the administrator’s power in Schedule 4 to the 1986 Act.
(2) A person dealing with the administrator in good faith and for value is not concerned to enquire whether any such permission has been given.
(3) Where the administrator has done anything without that permission, the court or the creditors’ committee may, for the purpose of enabling the administrator to meet the administrator’s expenses out of the assets, ratify what the administrator has done; but neither shall do so unless it is satisfied that the administrator has acted in a case of urgency and has sought ratification without undue delay.

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Source: https://www.legislation.gov.uk/uksi/2011/1301/rule/187 (the official version)
Page: https://openlegislation.uk/investment-bank-special-administration-england-and-wales-rules-2011/rule-187
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.