Rule 31 Order of appointment

(1)

The order of appointment of a person appointed under rule 30 shall specify the functions to be carried out by that person in relation to the investment bank’s affairs.

(2)

The Bank of England shall, immediately after the order is made, send a certified copy of the order to—

(a)

the person appointed;

(b)

the FSA; and

(c)

the FSCS,

and may also send to those persons an electronic copy of the certified copy of the order.

(3)

Immediately after the order of appointment is made, the person appointed shall—

(a)

serve a certified copy of the order on the investment bank and each director of the investment bank;

(b)

give notice of the appointment to—

(i)

the registrar of companies; and

(ii)

if there is in force for the investment bank a voluntary arrangement under Part 1 of the 1986 Act, the supervisor of that arrangement; and

(c)

advertise the appointment in accordance with the directions of the court.

(4)

Service on a director may be effected electronically by sending it to that director’s work email address.

(5)

The Bank of England may disclose the fact and terms of the order of appointment to any person whom the Bank of England thinks has a sufficient business interest.

(6)

Rules 19 to 22 shall then apply with the following modifications—

(a)

a reference to “special administration (bank insolvency)” is to be read as a reference to “special administration (bank administration)”; and

(b)

a reference to a person being appointed under rule 17 is to a person being appointed following an application made under rule 30.