Regulation 12E Bar date notices—procedural requirementsF1

(1)

The persons to whom a bar date notice must be given are—

(a)

all clients of whose claim for the return of client assets the administrator is aware;

(b)

all persons whom the administrator believes have a right to assert a security interest or other entitlement over the client assets;

(c)

the FCA and, where the investment bank is a PRA-authorised person, the PRA; and

(b)

in a special administration (bank administration) before the Bank of England has given an Objective A Achievement Notice, the Bank of England.

(2)

Paragraph (1) does not apply in relation to any such person whom the administrator has no means of contacting.

(3)

A bar date notice—

(a)

must be advertised once in the Gazette; and

(b)

may be advertised in such other manner as the administrator thinks fit.

(4)

In advertising a bar date notice under paragraph (3), the administrator must aim to ensure that the notice comes to the attention of as many persons who are eligible to submit a claim for the return of client assets as the administrator considers practicable.

(5)

In this regulation—

“Gazette” means—
1. (a)
  in England and Wales, the London Gazette;
2. (b)
  in Scotland, the Edinburgh Gazette; and
3. (c)
  in Northern Ireland, the Belfast Gazette;
“bar date notice” means a notice under regulation 12A(1) or a hard bar date notice under regulation 12B or 12C; and
“Objective A Achievement Notice” has the meaning given by paragraph 3(3) of Schedule 2.

Annotations

Textual amendments

F1: Regs. 12A-12F inserted (6.4.2017) by The Investment Bank (Amendment of Definition) and Special Administration (Amendment) Regulations 2017 (S.I. 2017/443), regs. 1, 12 (with reg. 17)