# The Investment Bank Special Administration (England and Wales) Rules 2011, Rule 207: Notice of intention to resign

Extent: E+W

(1) The administrator shall in all cases give at least 5 business days’ notice of their intention to resign, or their intention to apply for the court’s permission to do so, to the following persons—
(a) if there is a continuing administrator of the investment bank, to that person; and
(b) if there is a creditors’ committee, to it; but
(c) if there is no such administrator and no creditors’ committee, to the investment bank and its creditors and clients of whose claim the administrator is aware and of whom the administrator has a means of contacting.
(2) Where the administrator was appointed on the application of the FCA, the PRA or the Secretary of State, notice under paragraph (1) shall also be given to the applicant.
(3) In a special administration (bank insolvency), before the Objective A committee has passed a full payment resolution, notice under paragraph (1) shall be given to the Bank of England.
(4) In a special administration (bank administration), notice under paragraph (1) shall be given to the FCA and, where the investment bank concerned is a PRA-authorised person, the PRA and to the Bank of England.
(5) The notice under paragraph (1) shall set out—
(a) a statement that the proceedings are being held in the High Court and the court reference number;
(b) the full name, registered address, registered number of the investment bank;
(c) the full name and business address of the administrator;
(d) either—
(i) the date on which the administrator’s resignation shall take effect; or
(ii) the date upon which the administrator intends to apply to court for leave to resign.

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Source: https://www.legislation.gov.uk/uksi/2011/1301/rule/207 (the official version)
Page: https://openlegislation.uk/investment-bank-special-administration-england-and-wales-rules-2011/rule-207
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.