{
  "url": "https://openlegislation.uk/investment-bank-special-administration-england-and-wales-rules-2011/rule-247",
  "json_url": "https://openlegislation.uk/investment-bank-special-administration-england-and-wales-rules-2011/rule-247.json",
  "legislation": "uksi/2011/1301",
  "legislation_title": "The Investment Bank Special Administration (England and Wales) Rules 2011",
  "legislation_url": "https://openlegislation.uk/investment-bank-special-administration-england-and-wales-rules-2011",
  "path": "rule/247",
  "kind": "rule",
  "number": "247",
  "heading": "Applications under section 176A(5) to disapply section 176A",
  "text": "(1) An application under section 176A(5) must be accompanied by a witness statement by the administrator.\n(2) The witness statement must state—\n(a) that the investment bank is in special administration;\n(b) a summary of the financial position of the investment bank; and\n(c) the information substantiating the administrator’s view that the cost of making a distribution to unsecured creditors would be disproportionate to the benefits.",
  "extent": "E+W",
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "I",
      "label": "I1",
      "text": "Rule 247 in force at 30.6.2011, see rule 2"
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/uksi/2011/1301/rule/247",
    "retrieved_at": "2026-10-29T02:06:40.559899+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}