# The Payment and Electronic Money Institution Insolvency (England and Wales) Rules 2021, Article 145: Declaration of a dividend

Extent: E+W

(1) Where rule 144(2) does not apply and subject to paragraph (2), within the two month period referred to in rule 142(5)(a) the administrator must proceed to declare the dividend to one or more classes of creditor who have been given notice under that rule.
(2) Except with the permission of the court, the administrator must not declare a dividend so long as there is pending any application to the court to reverse or vary the administrator’s decision on a proof, or to exclude a proof or to reduce the amount claimed.
(3) If the court gives permission under paragraph (2), the administrator must make such provision in respect of the proof in question as the court directs.

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Source: https://www.legislation.gov.uk/uksi/2021/1178/article/145 (the official version)
Page: https://openlegislation.uk/payment-and-electronic-money-institution-insolvency-england-and-wales-rules-2021/article-145
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.