# The Investment Bank Special Administration (England and Wales) Rules 2011, Rule 8: Witness statement in support of application

Extent: E+W

(1) An application for a special administration order must be accompanied by a witness statement.
(2) If the application is made by—
(a) the investment bank or one of its directors, the witness statement shall be made by one of its directors or the company secretary of the investment bank, stating that they make it on behalf of the investment bank or, as the case may be, on behalf of the directors;
(b) a creditor or a contributory of the investment bank, the witness statement shall be made by a person acting under the authority of all the creditors, or, as the case may be, all the contributories, making the application;
(c) the FCA or, where relevant, the PRA, the witness statement must identify the person making the statement and must include the capacity in which that person makes the statement and the basis for that person’s knowledge of the matters set out in the statement; or
(d) a combination of the persons listed in regulation 5(1)(a) to (e), the witness statement shall be made by a person acting under the authority of all the applicants.
(3) The witness statement shall—
(a) set out the reasons by which the applicant believes the ground in regulation 6 on which the application is based is satisfied;
(b) state the investment bank’s current financial position, specifying (to the best of the applicant’s knowledge and belief) the investment bank’s assets and liabilities, including contingent and prospective liabilities;
(c) specify any security known or believed to be held by the creditors of the investment bank;
(d) specify the amount of client assets held by the investment bank to the best of the applicant’s knowledge and belief;
(e) specify how functions are going to be allocated where more than one person is to be appointed as administrator (stating in particular whether functions are to be exercisable jointly or by any or all of the persons appointed); and
(f) specify any other matters which the applicant thinks will assist the court in deciding whether to make the special administration order.

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Source: https://www.legislation.gov.uk/uksi/2011/1301/rule/8 (the official version)
Page: https://openlegislation.uk/investment-bank-special-administration-england-and-wales-rules-2011/rule-8
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.