{
  "url": "https://openlegislation.uk/investment-bank-special-administration-scotland-rules-2011/rule-45",
  "json_url": "https://openlegislation.uk/investment-bank-special-administration-scotland-rules-2011/rule-45.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/45",
  "kind": "rule",
  "number": "45",
  "heading": "Meeting to approve the revised statement of proposals",
  "text": "(1) This rule applies to a meeting of creditors, a meeting of clients or a meeting of creditors and clients to approve the revisions to the statement of proposals.\n(2) Where the revisions are being approved by a meeting of creditors and clients—\n(a) the creditors and the clients shall vote separately on whether to approve the revisions;\n(b) the revisions shall not be approved unless both classes of voter have voted to approve them; and\n(c) where the revisions are approved by a class of voter subject to a modification, the proposals will not be considered approved by the other class unless that other class has approved the proposals as modified.\n(3) In a special administration (bank insolvency) (and in an special administration (bank administration) if there are depositors) the FSCS shall be entitled to vote as a creditor under this rule and rule 65 has effect with respect to its voting rights.\n(4) In a special administration or a special administration (bank insolvency), where the FSA has given a direction under regulation 16 and has not withdrawn its direction at the time that the administrator proposes a revision to the statement of proposals, this rule shall not apply.\n(5) In a special administration (bank administration), where the FSA has given a direction under regulation 16 and has not withdrawn its direction at the time that the administrator proposes a revision to the statement of proposals—\n(a) if Objective A has not been achieved, paragraph (2)(c) shall not apply; and\n(b) if Objective A has been achieved, this rule shall not apply.",
  "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/45",
    "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."
}