{
  "url": "https://openlegislation.uk/investment-bank-special-administration-scotland-rules-2011/rule-16",
  "json_url": "https://openlegislation.uk/investment-bank-special-administration-scotland-rules-2011/rule-16.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/16",
  "kind": "rule",
  "number": "16",
  "heading": "Duties of Objective A committee",
  "text": "(1) As soon as reasonably practicable after the making of a special administration (bank insolvency) order, the Objective A committee shall meet the administrator for the purpose of discussing which of the Objectives, or combination of Objectives, mentioned in section 102(1) of the 2009 Act (as applied by paragraph 6 of Schedule 1 to the Regulations) the committee should recommend the administrator to pursue.\n(2) If the administrator and every individual on the Objective A committee agree, the meeting may be held by audio or video conference.\n(3) The Objective A committee shall make its recommendation to the administrator at the meeting.\n(4) The Bank of England shall confirm the Objective A committee’s recommendation in writing as soon as reasonably practicable after the meeting.\n(5) As soon as reasonably practicable after the making of a special administration (bank insolvency) order, the Objective A committee shall also pass a resolution as to the terms on which, in accordance with rule 135, the administrator is to be remunerated in respect of—\n(a) work done by the administrator in pursuit of Objective A; and\n(b) work done by the administrator in pursuit of Objectives 2 and 3 of the special administration objectives.\n(6) The Objective A committee—\n(a) shall take decisions and pass resolutions by a simple majority; and\n(b) for the purpose of taking decisions and passing resolutions, may communicate by any means that its members consider convenient.",
  "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/16",
    "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."
}