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The Bank Insolvency Rules (Northern Ireland) 2009 (revoked)

S.R. 2009/64 · Made 18 February 2009 · Extends to Northern Ireland

Up to date with all changes known to legislation.gov.uk, revised to 1 April 2009.

BANKING

BANK INSOLVENCY

Made 18th February 2009

To be laid before Parliament

Coming into operation 25th February 2009

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Annotations to the whole text

Textual amendments

F1

Rules revoked (1.4.2009) by The Bank Insolvency (No. 2) Rules (Northern Ireland) 2009 (S.R. 2009/122), art. 1(1)(2) (with art. 3)

Contents

  1. Part 1: INTRODUCTORY PROVISIONS Repealed
  2. 1Citation and commencement Repealed
  3. 2Extent Repealed
  4. 3Application of rules, construction and interpretation Repealed
  5. 4Overview Repealed
  6. 5Forms Repealed
  7. 6Time Repealed
  8. Part 2: APPLICATION FOR ORDER Repealed
  9. 7Filing of application Repealed
  10. 8Service of application Repealed
  11. 9Proof of service Repealed
  12. 10Other persons to receive copy of application Repealed
  13. 11Verification of application Repealed
  14. 12Persons entitled to copy of application Repealed
  15. 13Certificate of compliance Repealed
  16. 14Leave for the applicant to withdraw Repealed
  17. 15Witness Statement in opposition Repealed
  18. 16Making, transmission and advertisement of order Repealed
  19. 17Authentication of bank liquidator’s appointment Repealed
  20. 18Initial duties of bank liquidation committee Repealed
  21. 19Expenses of voluntary arrangement Repealed
  22. Part 3: PROVISIONAL BANK LIQUIDATOR Repealed
  23. 20Appointment of provisional bank liquidator Repealed
  24. 21Notice of appointment Repealed
  25. 22Order of appointment Repealed
  26. 23Security Repealed
  27. 24Failure to give or keep up security Repealed
  28. 25Remuneration Repealed
  29. 26Termination of appointment Repealed
  30. Part 4: STATEMENT OF AFFAIRS AND OTHER INFORMATION Repealed
  31. 27Notice requiring statement of affairs Repealed
  32. 28Verification and filing Repealed
  33. 29Limited disclosure Repealed
  34. 30Release from duty to submit statement of affairs; extension of time Repealed
  35. 31Expenses of statement of affairs Repealed
  36. 32Submission of accounts Repealed
  37. 33Further disclosure Repealed
  38. Part 5: INFORMATION TO CREDITORS AND CONTRIBUTORIES Repealed
  39. 34Report by bank liquidator Repealed
  40. 35Meaning of “creditors” Repealed
  41. 36Report where statement of affairs lodged Repealed
  42. 37Statement of affairs dispensed with Repealed
  43. 38General rule as to reporting Repealed
  44. 39Bank insolvency stayed Repealed
  45. Part 6: MEETINGS OF CREDITORS AND CONTRIBUTORIES Repealed
  46. RULES OF GENERAL APPLICATION Repealed
  47. 40First meeting Repealed
  48. 41Business at first meetings of creditors and contributories Repealed
  49. 42General power to call meetings Repealed
  50. 43The chair at meetings Repealed
  51. 44Requisitioned meetings general Repealed
  52. 45Requisitioned meetings reforming the liquidation committee Repealed
  53. 46Attendance at meetings of bank’s personnel Repealed
  54. 47Notice of meetings by advertisement only Repealed
  55. 48Venue Repealed
  56. 49Expenses of summoning meetings Repealed
  57. 50Resolutions Repealed
  58. 51Chairman of meeting as proxy-holder Repealed
  59. 52Suspension and adjournment Repealed
  60. 53Entitlement to vote (creditors) Repealed
  61. 54Entitlement to vote (contributories) Repealed
  62. 55Admission and rejection of proof (creditors' meetings) Repealed
  63. 56Record of proceedings Repealed
  64. Part 7: PROOF OF DEBTS Repealed
  65. 57Meaning of “prove” Repealed
  66. 58Supply of forms Repealed
  67. 59Contents of proof Repealed
  68. 60Claim established by affidavit Repealed
  69. 61Cost of proving Repealed
  70. 62Bank Liquidator to allow inspection of proofs Repealed
  71. 63New bank liquidator appointed Repealed
  72. 64Admission and rejection of proofs for dividend Repealed
  73. 65Appeal against decision on proof Repealed
  74. 66Withdrawal or variation of proof Repealed
  75. 67Expunging of proof by the court Repealed
  76. 68Estimate of quantum Repealed
  77. 69Negotiable instruments, etc. Repealed
  78. 70Secured creditors Repealed
  79. 71Discounts Repealed
  80. 72Mutual credits and set-off Repealed
  81. 73Disapplication of set off for eligible depositors Repealed
  82. 74Debt in foreign Currency Repealed
  83. 75Payments of a periodical nature Repealed
  84. 76Interest Repealed
  85. 77Debt payable at future time Repealed
  86. Part 8: SECURED CREDITORS Repealed
  87. 78Value of security Repealed
  88. 79Surrender for non-disclosure Repealed
  89. 80Redemption by liquidator Repealed
  90. 81Test of security’s value Repealed
  91. 82Realisation of security by creditor Repealed
  92. Part 9: THE BANK LIQUIDATOR Repealed
  93. GENERAL Repealed
  94. 83Remuneration of bank liquidator Repealed
  95. 84Replacement of bank liquidator by creditors Repealed
  96. 85Authentication of bank liquidator’s appointment Repealed
  97. 86Appointment to be advertised and registered Repealed
  98. RESIGNATION AND REMOVAL Repealed
  99. 87Creditors' meeting to be notified of bank liquidator’s resignation Repealed
  100. 88Action following acceptance of resignation Repealed
  101. 89Advertisement of resignation Repealed
  102. 90Meeting of creditors to remove bank liquidator Repealed
  103. 91Court’s power to regulate meetings under rule 83 Repealed
  104. 92Procedure on removal Repealed
  105. 93Advertisement of removal Repealed
  106. 94Removal of bank liquidator by the court Repealed
  107. 95Release of resigning or removed bank liquidator Repealed
  108. RELEASE ON COMPLETION OF WINDING UP Repealed
  109. 96Final meeting Repealed
  110. 97Rule as to reporting Repealed
  111. REMUNERATION Repealed
  112. 98Fixing of remuneration Repealed
  113. 99Bank liquidator’s entitlement to remuneration where it is not fixed under rule 98 Repealed
  114. 100Bank liquidator’s remuneration where he realises assets on behalf of chargeholder Repealed
  115. 101Other matters affecting remuneration Repealed
  116. 102Recourse of bank liquidator to meeting of creditors Repealed
  117. 103Recourse to the court Repealed
  118. 104Creditors' claim that remuneration is excessive Repealed
  119. 105Primacy of Objective 1 Repealed
  120. SUPPLEMENTARY PROVISIONS Repealed
  121. 106Replacement Bank liquidator Repealed
  122. 107Bank liquidator deceased Repealed
  123. 108Loss of qualification as insolvency practitioner Repealed
  124. 109Resignation of the bank liquidator Repealed
  125. 110Notice to Bank of England of intention to vacate office Repealed
  126. 111Bank liquidator’s duties on vacating office Repealed
  127. 112Power of court to set aside certain transactions Repealed
  128. 113Rule against solicitation Repealed
  129. Part 10: THE LIQUIDATION COMMITTEE Repealed
  130. 114Application of rules in this Part Repealed
  131. 115Membership of committee Repealed
  132. 116Formalities of establishment Repealed
  133. 117Committee established by contributories Repealed
  134. 118Obligations of liquidator to committee Repealed
  135. 119Meetings of the committee Repealed
  136. 120The Chair at meetings Repealed
  137. 121Quorum Repealed
  138. 122Committee-members' representatives Repealed
  139. 123Resignation Repealed
  140. 124Termination of membership Repealed
  141. 125Removal Repealed
  142. 126Vacancy (creditor members) Repealed
  143. 127Vacancy (contributory members) Repealed
  144. 128Voting rights and resolutions Repealed
  145. 129Resolutions by post Repealed
  146. 130Liquidator’s reports Repealed
  147. 131Expenses of members etc. Repealed
  148. 132Dealings by committee-members and others Repealed
  149. 133Composition of committee when creditors paid in full Repealed
  150. 134Committee’s functions vested in the Department Repealed
  151. 135Formal defects Repealed
  152. Part 11: COLLECTION AND DISTRIBUTION OF BANK'S ASSETS BY BANK LIQUIDATOR Repealed
  153. 136General duties of bank liquidator Repealed
  154. 137General qualification on powers Repealed
  155. 138Manner of distributing assets Repealed
  156. 139Debts of insolvent company to rank equally Repealed
  157. 140Supplementary provisions as to dividend Repealed
  158. 141Division of unsold assets Repealed
  159. 142General powers of the liquidator Repealed
  160. 143Enforced delivery up of company’s property Repealed
  161. 144Final distribution Repealed
  162. Part 12: DISCLAIMER Repealed
  163. 145Liquidator’s notice of disclaimer Repealed
  164. 146Communication of disclaimer to persons interested Repealed
  165. 147Additional notices Repealed
  166. 148Duty to keep court informed Repealed
  167. 149Application by interested party under Article 152(4) Repealed
  168. 150Interest in property to be declared on request Repealed
  169. 151Disclaimer presumed valid and effective Repealed
  170. 152Application for exercise of court’s powers under Article 155 Repealed
  171. Part 13: SETTLEMENT OF LIST OF CONTRIBUTORIES Repealed
  172. 153Preliminary Repealed
  173. 154Primacy of Objective 1 Repealed
  174. 155Duty of liquidator to settle list Repealed
  175. 156Form of list Repealed
  176. 157Procedure for settling list Repealed
  177. 158Application to court for variation of the list Repealed
  178. 159Variation of, or addition to, the list Repealed
  179. 160Costs not to fall on bank liquidator Repealed
  180. Part 14: CALLS Repealed
  181. 161Calls by liquidator Repealed
  182. 162Control by bank liquidation committee Repealed
  183. 163Application to court for leave to make a call Repealed
  184. 164Making and enforcement of the call Repealed
  185. Part 15: SPECIAL MANAGER Repealed
  186. 165Appointment and remuneration Repealed
  187. 166Security Repealed
  188. 167Failure to give or keep up security Repealed
  189. 168Accounting Repealed
  190. 169Termination of appointment Repealed
  191. Part 16: ORDER OF PAYMENT AS TO COSTS, ETC. OUT OF ASSETS Repealed
  192. 170General rule as to priority Repealed
  193. 171Litigation expenses and property subject to a floating charge-general application Repealed
  194. 172Litigation expenses and property subject to a floating charge-requirement for approval or authorisation Repealed
  195. 173Litigation expenses and property subject to a floating charge-request for approval or authorisation Repealed
  196. 174Litigation expenses and property subject to a floating charge-grant of approval or authorisation Repealed
  197. 175Litigation expenses and property subject to a floating charge-application to court by the bank liquidator Repealed
  198. 176Saving for powers of the court Repealed
  199. Part 17: MISCELLANEOUS RULES Repealed
  200. RETURN OF CAPITAL Repealed
  201. 177Application to court for order authorising return of capital Repealed
  202. 178Procedure for return of capital Repealed
  203. CONCLUSION OF BANK INSOLVENCY Repealed
  204. 179Department’s directions under section 116 of the 2009 Act Repealed
  205. 180Procedure following appeal under section 116 of the 2009 Act Repealed
  206. LEAVE TO ACT AS DIRECTOR, ETC. OF BANK WITH PROHIBITED NAME (ARTICLE 180 OF THE ORDER) Repealed
  207. 181Preliminary Repealed
  208. 182Application for leave under Article 180(3) before passing of full payment resolution Repealed
  209. 183Consideration of application for leave under Article 180(3) Repealed
  210. 184First excepted case Repealed
  211. 185Second excepted case Repealed
  212. 186Third excepted case Repealed
  213. 187Further exception Repealed
  214. Part 18: COURT PROCEDURE AND PRACTICE Repealed
  215. Chapter 1: APPLICATIONS (GENERAL) Repealed
  216. 188Preliminary Repealed
  217. 189Interpretation Repealed
  218. 190Form and contents of application Repealed
  219. 191Application under Article 150A(5) to disapply Article 150A Repealed
  220. 192Filing and service of application Repealed
  221. 193Notice of application under section Article 150A(5) Repealed
  222. 194Other hearings without notice Repealed
  223. 195Hearing of application Repealed
  224. 196Use of affidavit evidence Repealed
  225. 197Filing and service of affidavits Repealed
  226. 198Use of reports Repealed
  227. 199Adjournment of hearing: directions Repealed
  228. Chapter 3: SHORTHAND WRITERS Repealed
  229. 200Nomination and appointment of shorthand writers Repealed
  230. 201Remuneration Repealed
  231. Chapter 4: ENFORCEMENT PROCEDURES Repealed
  232. 202Enforcement of court orders Repealed
  233. 203Orders enforcing compliance with the rules Repealed
  234. 204Warrants (general provisions) Repealed
  235. 205Warrants under Article 200 Repealed
  236. Chapter 5: COURT RECORDS AND RETURNS Repealed
  237. 206Title of proceedings Repealed
  238. 207Court records Repealed
  239. 208Inspection of records Repealed
  240. 209File of court proceedings and inspection Repealed
  241. 210Filing of Gazette notices and advertisements Repealed
  242. Chapter 6: COSTS AND DETAILED ASSESSMENT Repealed
  243. 211Application of the Supreme Court Rules Repealed
  244. 212Requirement to assess costs by the detailed procedure Repealed
  245. 213Procedure where detailed assessment required Repealed
  246. 214Cost of officers charged with executions of writs or other process Repealed
  247. 215Costs paid otherwise than out of the insolvent estate Repealed
  248. 216Award of costs against responsible insolvency practitioner Repealed
  249. 217Application for costs Repealed
  250. 218Costs and expenses of witnesses Repealed
  251. Chapter 7: PERSONS INCAPABLE OF MANAGING THEIR AFFAIRS Repealed
  252. 219Introductory Repealed
  253. 220Appointment of another person to act Repealed
  254. 221Affidavit in support of application Repealed
  255. 222Service of notices following appointment Repealed
  256. Chapter 8: APPEALS IN BANK INSOLVENCY PROCEEDINGS Repealed
  257. 223Appeals and review of court orders Repealed
  258. 224Procedure on appeal Repealed
  259. 225Appeal against a decision of the Department Repealed
  260. Chapter 9: GENERAL Repealed
  261. 226Principal court rules and practice to apply Repealed
  262. 227Right of attendance Repealed
  263. 228Restriction on concurrent proceedings and remedies Repealed
  264. 229Security in court Repealed
  265. 230Further information and disclosure Repealed
  266. 231Office copies of documents Repealed
  267. Part 19: PROXIES AND COMPANY REPRESENTATION Repealed
  268. 232Definition of “proxy” Repealed
  269. 233Issue and use of forms Repealed
  270. 234Use of proxies at meetings Repealed
  271. 235Retention of proxies Repealed
  272. 236Right of inspection Repealed
  273. 237Proxy-holder with financial interest Repealed
  274. 238Company representation Repealed
  275. Part 20: EXAMINATION OF PERSONS CONCERNED IN BANK INSOLVENCY Repealed
  276. 239Preliminary Repealed
  277. 240Form and contents of application Repealed
  278. 241Order for examination, etc Repealed
  279. 242Procedure for examination Repealed
  280. 243Record of examination Repealed
  281. 244Cost of proceedings Repealed
  282. Part 21: DECLARATION AND PAYMENT OF DIVIDEND Repealed
  283. 245Preliminary Repealed
  284. 246Notice of intended dividend Repealed
  285. 247Final admission/rejection of proofs Repealed
  286. 248Postponement or cancellation of dividend Repealed
  287. 249Decision to declare dividend Repealed
  288. 250Notice of declaration Repealed
  289. 251Notice of no, or no further, dividend Repealed
  290. 252Proof altered after payment of dividend Repealed
  291. 253Secured creditors Repealed
  292. 254Disqualification from dividend Repealed
  293. 255Assignment of right to dividend Repealed
  294. 256Preferential creditors Repealed
  295. 257Debt payable at future time Repealed
  296. Part 22: MISCELLANEOUS AND GENERAL Repealed
  297. 258Power of Department to regulate certain matters Repealed
  298. 259Costs, expenses, etc Repealed
  299. 260Provable debts Repealed
  300. 261Notices Repealed
  301. 262Quorum at meeting of creditors or contributories Repealed
  302. 263Evidence of proceedings at meetings Repealed
  303. 264Documents issuing from the Department Repealed
  304. 265Insolvency practitioner’s security Repealed
  305. 266Time Repealed
  306. 267Service by post Repealed
  307. 268General provisions as to service Repealed
  308. 269Service outside the jurisdiction Repealed
  309. 270Confidentiality of documents Repealed
  310. 271Notices sent simultaneously to the same person Repealed
  311. 272Right to copy documents Repealed
  312. 273Charge for copy documents Repealed
  313. 274Non-receipt of notice of meeting Repealed
  314. 275Right to have list of creditors Repealed
  315. 276False claim of status as creditors Repealed
  316. 277Execution overtaken by judgement debtor’s insolvency Repealed
  317. 278The Gazette Repealed
  318. 279Punishment of offences Repealed
  319. 280Notice of order under Article 150A(5) Repealed
  320. Part 23: INTERPRETATION Repealed
  321. 281Introductory Repealed
  322. 282Expressions used generally Repealed
  323. 283“Give notice”, etc Repealed
  324. 284Notice, etc to solicitors Repealed
  325. 285Notice to joint bank liquidators Repealed
  326. 286“Insolvent estate” Repealed
  327. 287“Responsible insolvency practitioner”, etc Repealed
  328. 288The Schedule Repealed
  329. Signature
  330. Schedule Repealed
  331. 1Paragraph 1 Repealed
  332. Explanatory note