{
  "url": "https://openlegislation.uk/investment-bank-special-administration-england-and-wales-rules-2011/rule-29",
  "json_url": "https://openlegislation.uk/investment-bank-special-administration-england-and-wales-rules-2011/rule-29.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/29",
  "kind": "rule",
  "number": "29",
  "heading": "Duties of Objective A committee",
  "text": "(1) This rule applies where a special administration (bank insolvency) order has been made.\n(2) As soon as reasonably practicable after the making of a special administration (bank insolvency) order, the Objective A committee shall meet the administrator for the purpose of discussing which of the objectives, or combination of objectives, mentioned in section 102(1) of the 2009 Act (as applied by paragraph 6 of Schedule 1 to the Regulations), the committee should recommend the administrator to pursue.\n(3) If the administrator and every individual on the Objective A committee agree, the meeting may be held by audio or video conference.\n(4) The Objective A committee shall make its recommendation to the administrator at the meeting.\n(5) The Bank of England shall confirm the Objective A committee’s recommendation in writing as soon as practicable after the meeting.\n(6) As soon as practicable after the making of a special administration (bank insolvency) order, the Objective A committee shall also pass a resolution as to the terms on which, in accordance with rule 196, the administrator is to be remunerated in respect of—\n(a) work done by the administrator in pursuit of Objective A; and\n(b) work done by the administrator in pursuit of Objectives 2 and 3 of the special administration objectives.\n(7) The Objective A committee—\n(a) shall take decisions and pass resolutions by a simple majority; and\n(b) for the purpose of taking decisions and passing resolutions, may communicate by any means that its members consider convenient.",
  "extent": "E+W",
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "I",
      "label": "I1",
      "text": "Rule 29 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/29",
    "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."
}