{
  "url": "https://openlegislation.uk/investment-bank-special-administration-scotland-rules-2011/rule-119",
  "json_url": "https://openlegislation.uk/investment-bank-special-administration-scotland-rules-2011/rule-119.json",
  "legislation": "uksi/2011/2262",
  "legislation_title": "The Investment Bank Special Administration (Scotland) Rules 2011",
  "legislation_url": "https://openlegislation.uk/investment-bank-special-administration-scotland-rules-2011",
  "path": "rule/119",
  "kind": "rule",
  "number": "119",
  "heading": "Notifying potential claimants after bar date has passed",
  "text": "(1) This rule applies where, after the bar date has passed—\n(a) there is evidence from either—\n(i) the records of the investment bank; or\n(ii) information received by the administrator under rule 115 or 116,\nthat there is a person (“P”) who is eligible to make a claim under regulation 11(1) in respect of certain client assets, but that the administrator has not received a claim from P in respect of those client assets; and\n(b) the administrator has a means of contacting P.\n(2) The administrator shall send notice to P in writing stating that the administrator believes P would have been eligible to submit a claim under regulation 11(1).\n(3) Where P would have been eligible to submit a claim under regulation 11(1)(a), the notice under paragraph (2) shall state that—\n(a) the administrator believes that the investment bank holds client assets on behalf of P; and\n(b) in making the distribution plan under rule 120, the administrator intends to calculate the amount of assets to be returned to P according to the information available to the administrator, unless P submits a claim in accordance with rule 115 within 14 business days of receipt of the notice (or such longer period as may be agreed by the administrator).\n(4) Where P would have been eligible to submit a claim under regulation 11(1)(b), the notice under paragraph (2) shall state that—\n(a) the administrator believes that P is able to assert a security interest over certain client assets held by the investment bank; and\n(b) in making the distribution plan under rule 120, the administrator intends to take into account the security interest according to the information available to the administrator, unless P submits a claim in accordance with rule 116 within 14 business days of receipt of the notice (or such longer period as may be agreed by the administrator).",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/uksi/2011/2262/rule/119",
    "retrieved_at": "2026-10-29T01:55:34.289957+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."
}