Article 209 Applications under section 176A(5) to disapply section 176AI1

England and Wales

(1)

An application under section 176A(5) must be accompanied by a witness statement by the administrator.

(2)

The witness statement must state—

(a)

that the institution is in special administration,

(b)

a summary of the financial position of the institution, and

(c)

the information substantiating the administrator’s view that the cost of making a distribution to unsecured creditors would be disproportionate to the benefits.

Annotations

Commencement

I1: Rule 209 in force at 12.11.2021, see rule 2