Source: http://www.legislation.gov.uk/uksi/2009/356/body/made
Timestamp: 2013-12-06 05:33:33
Document Index: 309858254

Matched Legal Cases: ['ART 1', 'art 2', 'art 15', 'art 6', 'art 22', 'art 4', 'art 2', 'art 2', 'art 22', 'art 2', 'ART 2', 'art 1', 'art 1']

Skip to main contentSkip to navigationlegislation.gov.ukThe National ArchivesHelpSite MapAccessibilityContact UsCymraegHomeAbout UsBrowse LegislationNew LegislationChanges To LegislationSearch LegislationSearch LegislationTitle: (or keywords in the title)Year:Number:Type:All Legislation (excluding draft)All Primary Legislation UK Public General Acts UK Local Acts Acts of the Scottish Parliament Acts of the National Assembly for Wales Measures of the National Assembly for Wales Church Measures Acts of the Northern Ireland Assembly Acts of the Old Scottish Parliament Acts of the English Parliament Acts of the Old Irish Parliament Acts of the Parliament of Great Britain Northern Ireland Orders in Council Measures of the Northern Ireland Assembly Acts of the Northern Ireland ParliamentAll Secondary Legislation UK Statutory Instruments Wales Statutory Instruments Scottish Statutory Instruments Northern Ireland Statutory Rules Church Instruments UK Ministerial Orders UK Statutory Rules and OrdersAll Draft Legislation UK Draft Statutory Instruments Scottish Draft Statutory Instruments Northern Ireland Draft Statutory RulesAll Impact Assessments UK Impact AssessmentsSearchAdvanced SearchThe Bank Insolvency (England and Wales) Rules 2009You are here:2009 No. 356Whole Instrument without SchedulesTable of ContentsContentExplanatory MemorandumMore ResourcesPrevious: IntroductionNext: SchedulePlain ViewPrint OptionsWhat VersionLatest available (Revised)Original (As made)Opening OptionsOpen whole InstrumentOpen Instrument without schedulesOpen Schedules onlyMore ResourcesOriginal Print PDFView moreStatus:This is the original version (as it was originally made). This item of legislation is currently only available in its original format.PART 1INTRODUCTORY PROVISIONSCitation and commencement1. These Rules may be cited as the Bank Insolvency (England and Wales) Rules 2009 and come into force on 25th February 2009.
Extent2. These Rules extend to England and Wales only.
Application of rules, construction and interpretation3. (1) These Rules apply in relation to a bank undergoing the procedure in Part 2 of the Banking Act 2009(1) known as bank insolvency.
“the 1986 Act” means the Insolvency Act 1986 (and includes those provisions as applied by section 103 of the 2009 Act);
“the 1986 Rules” means the Insolvency Rules 1986(3);
“the 2006 Act” means the Companies Act 2006(4);
“CPR” means the Civil Procedure Rules 1998(5);
“the FSCS” means the Financial Services Compensation Scheme (established under Part 15 of the Financial Services and Markets Act 2000(6)) or, where appropriate, the scheme manager of that scheme;
“personal service” has the meaning given in Part 6 of the CPR;
“sealed” means sealed with the seal of the court under which the application was made: and
“statement of truth” has the meaning set out in Part 22 of the CPR.
(b)in the case of a rule applying a rule in Part 4, 7, 8, 9, 11, 12 or 13 of the 1986 Rules, the rule so applied with—
(ii)the modifications contained in the rule applying it, and
(iii)any other necessary modification;
(c)the Schedule, which applies the relevant schedules of the 1986 Rules.
(4) The modifications are that where applicable, a reference to—
(a)the 1986 Act (or to “the Act”) is a reference to that Act as applied, with modifications, by the 2009 Act, (and includes, where appropriate, a reference to Part 2 of the 2009 Act.)
(b)the 1986 Rules (or to “the Rules”) is a reference to these Rules,
(c)an affidavit is a reference to a witness statement,
(d)the commencement of winding up is a reference to the commencement of bank insolvency,
(e)the chairman is a reference to the chair,
(f)a reference to a company is a reference to a bank,
(g)going into liquidation is a reference to entering bank insolvency,
(h)insolvency proceedings is a reference to bank insolvency proceedings,
(i)the official receiver should be ignored unless otherwise stated,
(j)a petition for winding up is a reference to an application for bank insolvency under section 95 of the 2009 Act,
(k)a petitioner is a reference to an applicant,
(l)the provisional liquidator is a reference to the provisional bank liquidator,
(m)winding up is a reference to bank insolvency,
(n)winding up by the court is a reference to a bank being placed into bank insolvency by the court, and
(b)both in a modification to a rule from the 1986 Rules applied by these Rules and in Part 2 of the 2009 Act,
(6) Where a rule applies a rule of the 1986 Rules and modifies that rule by inserting or substituting text—
(a)any reference in the modified rule to the 2009 Rules is a reference to these rules;
(7) Where a rule in the 1986 Rules (Rule A) contains a reference to another such rule (Rule B) and—
(8) Where a rule (Rule A) refers to another rule (Rule B), and Rule B applies a rule of the 1986 Rules (Rule C) with or without modifications, the reference in Rule A includes a reference to Rule C as applied to Rule B.
(9) Any notice or document required to sent electronically by these Rules shall be treated as having been sent to the person if—
(a)it is sent by email to the person’s last known email address, and
(10) Where the rules provide for a witness statement (either expressly, or through the application of the 1986 Rules as modified above)—
(a)that statement is a reference to a witness statement verified by a statement of truth in accordance with Part 22 of the CPR, and
(b)if the statement is made by the bank liquidator or provisional bank liquidator, the statement should state as such and should include the address at which that person works.
Overview4. The purpose of these Rules is to provide a procedure for the appointment of a bank liquidator and the operation of bank insolvency under Part 2 of the 2009 Act in England and Wales.
Forms5. (1) This Rule applies where a provision of these Rules—
(a)applies a provision of the Insolvency Rules 1986 which requires the use of a prescribed form, or
Time Limits6. (1) Where by any provision of the 1986 Act, the 2009 Act or these Rules, the time for doing anything is limited, the court may extend the time, either before or after it has expired, on such terms, if any, as it thinks fit.
(2) If the court’s consideration of whether to extend the time for doing anything takes place before a full payment resolution has been passed, the court shall only extend the time if it considers that the resulting delay will not significantly prejudice the achievement of Objective 1.
PART 2APPLICATION FOR ORDERFiling of application7. (1) The application for a bank insolvency order, verified by witness statement in accordance with rule 11, shall be filed in court.
(a)1 copy for service on the bank,
(b)1 copy to be attached to the proof of service, and
(5) Any application filed in relation to a bank in respect of which there is in force a voluntary arrangement under Part 1 of the 1986 Act shall be filed in accordance with this rule, but a copy of that application shall also be sent to the court to which the nominee’s report under section 2 of the 1986 Act was submitted, if that is not the same court.
Service of application8. (1) The applicant shall serve the bank with a sealed copy of the application.
(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, section 10 of the 1985 Act(7) 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, section 287 of the 1985 Act(8), the place specified in that notice or, as the case may be, in the last such notice.
(a)it may be handed to a person who there and then acknowledges that they are , or to the best of the server’s knowledge, information and belief are, a director or other officer, or employee, of the bank, or
(b)it may be handed to a person who there and then acknowledges that they are authorised to accept service documents on the company’s behalf, or
(7) If the bank or its legal representatives fail to attend the hearing, the court may make the bank insolvency order in its absence if satisfied that the application has been served in accordance with this rule.
Proof of service9. Apply rule 4.9 of the 1986 Rules.
Other persons to receive copy of application10. (1) The applicant shall send a sealed copy of the application to—
(a)the proposed bank liquidator,
(b)the Bank of England, (if it is not the applicant,)
(c)the FSA, (if it is not the applicant,)
(e)on any person who has given notice to the FSA in respect of the bank under section 120 of the Banking Act 2009,
(f)if there is in force for the bank a voluntary arrangement under Part 1 of the 1986 Act, the supervisor of that arrangement, and
(g)if an administrative receiver has been appointed in relation to the bank, that receiver,
Verification of application11. (1) This applies where an application has been filed at the court under rule 7 above.
Persons entitled to copy of application12. (1) Every contributory or creditor of the bank is entitled to a copy of the application on request from the applicant.