# The Investment Bank Special Administration (England and Wales) Rules 2011, Rule 86: FSCS and voting rights

Extent: E+W

(1) For the purpose of voting at a meeting in a special administration (bank insolvency) (or in a special administration (bank administration ) if there are depositors), the FSCS may submit, instead of giving written details, a statement containing—
(a) the names of the creditors of the investment bank in respect of whom an obligation of the FSCS has arisen or may reasonably be expected to arise;
(b) the amount of each such obligation; and
(c) the total amount of all such obligations.
(2) The FSCS may from time to time submit a further statement; and each such statement supersedes any previous statement.
(3) Any voting rights which a creditor might otherwise exercise in the special administration in respect of a claim are reduced by a sum equal to the amount of that claim in relation to which the FSCS, by virtue of its having submitted a statement under this rule, is entitled to exercise voting rights at the meeting.

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Source: https://www.legislation.gov.uk/uksi/2011/1301/rule/86 (the official version)
Page: https://openlegislation.uk/investment-bank-special-administration-england-and-wales-rules-2011/rule-86
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.