Rule 133 Notice of intention to resignI1

Scotland

(1)

The administrator must in all cases give at least five business days’ notice of their intention to resign, or their intention to apply for the court’s permission to do so, to the following persons—

(a)

if there is a continuing administrator of the institution, to that person,

(b)

if there is a creditors’ committee, to it.

(2)

If there is no continuing administrator and no creditors’ committee, the administrator must give at least five business days’ notice of their intention to resign, or their intention to apply for the court’s permission to do so, to the institution and its creditors and customers of whose claim the administrator is aware and whom the administrator has a means of contacting.

(3)

Where the administrator was appointed on the application of the FCA or the Secretary of State, notice under paragraph (1) or paragraph (2) must also be given to the applicant.

(4)

Notice under paragraph (1) or paragraph (2) must set out—

(a)

a statement that the proceedings are being held in the court and the court reference number,

(b)

the full name, registered address, registered number of the institution,

(c)

the full name and business address of the administrator,

(d)

either—

(i)

the date on which the administrator’s resignation shall take effect, or

(ii)

the date upon which the administrator intends to apply to the court for leave to resign.

(5)

The notice must be accompanied by a summary of the administrator’s receipts and payments.

Annotations

Commencement

I1: Rule 133 in force at 19.12.2022, see rule 2