Source: http://www.legislation.gov.uk/nisr/2009/122/made/data.xht?view=snippet&wrap=true
Timestamp: 2018-03-20 19:43:41
Document Index: 182763828

Matched Legal Cases: ['art 15', 'arts 2', 'art 2', 'arts 11', 'art 1', 'art 2']

This instrument has been made in consequence of defects in S.R. 2009 No. 64 and is being issued free of charge to all known recipients of that instrument.
The Lord Chief Justice of Northern Ireland under Article 359(1A)(2) of the Insolvency (Northern Ireland) Order 1989 concurs in the making of the Rules in so far as they affect court procedure.
The Lord Chancellor has not consulted the Committee existing for the purposes of Article 360 of the Order: this is the first set of rules made in reliance on section 125 of the Banking Act 2009(3) and the duty to consult does not therefore apply to these rules by virtue of section 125(8) of that Act.
(2) The Bank Insolvency Rules (Northern Ireland) 2009(4) are revoked.
“the 1991 Rules” means the Insolvency Rules (Northern Ireland)1991(5);
“the 2006 Act” means the Companies Act 2006(6);
“the 2009 Act” means the Banking Act 2009(7)
“the Department” means the Department of Enterprise, Trade and Investment(8);
“Companies Order” means the Companies (Northern Ireland) Order 1986(9);
“the FSCS” means the Financial Services Compensation Scheme (established under Part 15 of the Financial Services and Markets Act 2000(10)) or, where appropriate, the scheme manager of that scheme;
(a)the place which is specified, in the bank’s statement delivered under section 9 of the 2006 Act or, before that section comes into force, Article 21 of the Companies Order(11), as the intended situation of its registered office on incorporation; or
(b)if notice has been given by the bank to the registrar of companies under section 87 of the 2006 Act or, before that section comes into force, Article 295 of the Companies Order(12) (change of registered office), the place specified in that notice or, as the case may be, in the last such notice.
73.—(1) This rule applies if the FSA Rules allow the FSCS to make gross payments of compensation(13).
(6) “Protected deposit” means a protected deposit within the meaning given by the Compensation Sourcebook(14).
(d)a statement as to the amount paid to unsecured creditors by virtue of the application of Article 150A of the Order (prescribed part)(15).
97.—(1) Apply rule 4.132A(16)of the 1991 Rules.
(2) In paragraph (3), the reference to Article 383 of the Companies Order, shall, after that Article is repealed, be to section 323 of the 2006 Act.(17)
(2) In paragraph (2), the reference to Article 383 of the Companies Order, shall, after that Article is repealed, be to section 323 of the 2006 Act.(18).
170.—(1) Apply rule 4.228(19) of the 1991 Rules.
171. Apply rule 4.228A(20) of the 1991 Rules.
(2) In paragraph (b), the reference to Article 180(3) of the Companies Order should, after that Article is repealed, be to section 451 of the 2006 Act.(21).
191.—(1) Apply rule 7.07A(22) of the 1991 Rules.
193.—(1) Apply rule 7.08A(23) of the 1991 Rules.
226. The Rules of the Supreme Court (Northern Ireland) 1980(24) and the practice and procedure of the High Court (including any practice direction) apply to bank insolvency proceedings in the High Court, with any necessary modifications, except so far as is inconsistent with these Rules.
258.—(1) As provided for in paragraph 27 of Schedule 5 to the Order and paragraph 28 of Schedule 6 to the Order(25), the Department may, subject to the Order and to these Rules, make regulations with respect to any matter provided for in these Rules relating to the carrying out of the functions of a bank liquidator or provisional bank liquidator, including, without prejudice to the generality of the above, provision with respect to the following matters arising in bank insolvency—
(2) Any obligation arising under a confiscation order made under Articles 4 or 5 of the Criminal Justice (Confiscation) (Northern Ireland) Order 1990(26) or under Parts 2, 3 or 4 of the Proceeds of Crime Act 2002 is not provable.
These Rules revoke and replace the Bank Insolvency Rules (Northern Ireland) 2009 to correct drafting errors in that instrument. They set out the procedure for the bank insolvency process under Part 2 of the Banking Act 2009 (c.1).
The Rules are based and follow the same order as the Insolvency Rules (Northern Ireland)1991 (“the 1991 Rules”) and certain provisions of the 1991 Rules are applied to these Rules, subject to a number of general and specific modifications.
Parts 11- 17 set out provisions relating to the bank’s assets and other miscellaneous provisions.
Article 359(1A) was inserted by the Constitutional Reform Act 2005 (c. 4), Schedule 5, Part 1, paragraphs 80 and 81.
2009 c.1. See also section 134.
S.R. 2009 No. 64
Formerly the Department of Economic Development, see the Departments (Northern Ireland) Order 1999 (S.I. 1999/283 (N.I. 1))
Article 150A was inserted by the (Insolvency (Northern Ireland) Order 1989 (Prescribed Part) Order S.R. 2006 No. 25.
Rule 4.132A was inserted by the Insolvency (Amendment) Rules (Northern Ireland) 2006 (S.R. 2006 No. 47), rule 33.
Rule 4.228 was amended by the Insolvency (Amendment) Rules (Northern Ireland) 2008 (S.R. 2008 No. 118).
Rules 4.228A to E were inserted by the Insolvency (Amendment) Rules (Northern Ireland) 2008 (S.R. 2008 No. 118).
Rule 7.07A was inserted by the Insolvency (Amendment) Rules (Northern Ireland) 2006 (S.R. 2006 No. 47), rule 97.
Rule 7.08A was inserted by the Insolvency (Amendment) Rules (Northern Ireland) 2006 (S.R. 2006 No. 47), rule 98.
Article 359 of the Order, which introduces Schedule 5, was amended by section 134 of the 2009 Act to extend the powers in the Schedule to rules made under Part 2 of that Act