OpenLegislation

Rule 140 Application to court to remove administrator from office

Original text. Later amendments are not shown.

(1)

An application to the court to remove an administrator from office shall be served upon—

(a)

the administrator;

(b)

the person who made the application for the special administration order;

(c)

the creditors’ committee (if any);

(d)

the joint administrator (if any);

(e)

where there is neither a creditor’s committee nor a joint administrator, upon the investment bank and all the creditors and clients of whose claim the administrator is aware and of whom they have a means of contacting;

(f)

the FSA; and

(g)

in a special administration (bank administration) where the Bank of England has not given an Objective A Achievement Notice, the Bank of England.

(2)

In a special administration (bank administration) the application must state that either—

(a)

the Bank of England has consented to the application; or

(b)

the Bank of England has given an Objective A Achievement Notice.

(3)

An applicant under this rule shall, within 5 business days of the order being made, send a copy of the order to all those to whom notice of the application was sent, and notice of the order to the registrar of companies.