Source: http://www.legislation.gov.uk/nisr/2009/64/contents/made
Timestamp: 2013-05-25 13:32:37
Document Index: 200122524

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Skip to main contentSkip to navigationlegislation.gov.ukThe National ArchivesHelpSite MapAccessibilityContact UsHomeAbout 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 Rules (Northern Ireland) 2009You are here:2009 No. 64Table of ContentsTable of ContentsContentMore ResourcesPlain ViewPrint Options
Status:This is the original version (as it was originally made). Northern Ireland Statutory Rules are not carried in their revised form on this site.Introductory TextPART 1 INTRODUCTORY PROVISIONS1.Citation and commencement2.Extent3.Application of rules, construction and interpretation4.Overview5.Forms6.TimePART 2 APPLICATION FOR ORDER7.Filing of application8.Service of application9.Proof of service10.Other persons to receive copy of application11.Verification of application12.Persons entitled to copy of application13.Certificate of compliance14.Leave for the applicant to withdraw15.Witness Statement in opposition16.Making, transmission and advertisement of order17.Authentication of bank liquidator’s appointment18.Initial duties of bank liquidation committee19.Expenses of voluntary arrangementPART 3 PROVISIONAL BANK LIQUIDATOR20.Appointment of provisional bank liquidator21.Notice of appointment22.Order of appointment23.Security24.Failure to give or keep up security25.Remuneration26.Termination of appointmentPART 4 STATEMENT OF AFFAIRS AND OTHER INFORMATION27.Notice requiring statement of affairs28.Verification and filing29.Limited disclosure30.Release from duty to submit statement of affairs; extension of time31.Expenses of statement of affairs32.Submission of accounts33.Further disclosurePART 5 INFORMATION TO CREDITORS AND CONTRIBUTORIES34.Report by bank liquidator35.Meaning of “creditors”36.Report where statement of affairs lodged37.Statement of affairs dispensed with38.General rule as to reporting39.Bank insolvency stayedPART 6 MEETINGS OF CREDITORS AND CONTRIBUTORIESRULES OF GENERAL APPLICATION40.First meeting41.Business at first meetings of creditors and contributories42.General power to call meetings43.The chair at meetings44.Requisitioned meetings general45.Requisitioned meetings reforming the liquidation committee46.Attendance at meetings of bank’s personnel47.Notice of meetings by advertisement only48.Venue49.Expenses of summoning meetings50.Resolutions51.Chairman of meeting as proxy-holder52.Suspension and adjournment53.Entitlement to vote (creditors)54.Entitlement to vote (contributories)55.Admission and rejection of proof (creditors' meetings)56.Record of proceedingsPART 7 PROOF OF DEBTS57.Meaning of “prove”58.Supply of forms59.Contents of proof60.Claim established by affidavit61.Cost of proving62.Bank Liquidator to allow inspection of proofs63.New bank liquidator appointed64.Admission and rejection of proofs for dividend65.Appeal against decision on proof66.Withdrawal or variation of proof67.Expunging of proof by the court68.Estimate of quantum69.Negotiable instruments, etc.70.Secured creditors71.Discounts72.Mutual credits and set-off73.Disapplication of set off for eligible depositors74.Debt in foreign Currency75.Payments of a periodical nature76.Interest77.Debt payable at future timePART 8 SECURED CREDITORS78.Value of security79.Surrender for non-disclosure80.Redemption by liquidator81.Test of security’s value82.Realisation of security by creditorPART 9 THE BANK LIQUIDATORSECTION AGENERAL83.Remuneration of bank liquidator84.Replacement of bank liquidator by creditors85.Authentication of bank liquidator’s appointment86.Appointment to be advertised and registeredSECTION BRESIGNATION AND REMOVAL87.Creditors' meeting to be notified of bank liquidator’s resignation88.Action following acceptance of resignation89.Advertisement of resignation90.Meeting of creditors to remove bank liquidator91.Court’s power to regulate meetings under rule 8392.Procedure on removal93.Advertisement of removal94.Removal of bank liquidator by the court95.Release of resigning or removed bank liquidatorSECTION CRELEASE ON COMPLETION OF WINDING UP96.Final meeting97.Rule as to reportingSECTION DREMUNERATION98.Fixing of remuneration99.Bank liquidator’s entitlement to remuneration where it is not fixed under rule 98100.Bank liquidator’s remuneration where he realises assets on behalf of chargeholder101.Other matters affecting remuneration102.Recourse of bank liquidator to meeting of creditors103.Recourse to the court104.Creditors' claim that remuneration is excessive105.Primacy of Objective 1SECTION ESUPPLEMENTARY PROVISIONS106.Replacement Bank liquidator107.Bank liquidator deceased108.Loss of qualification as insolvency practitioner109.Resignation of the bank liquidator110.Notice to Bank of England of intention to vacate office111.Bank liquidator’s duties on vacating office112.Power of court to set aside certain transactions113.Rule against solicitationPART 10 THE LIQUIDATION COMMITTEE114.Application of rules in this Part115.Membership of committee116.Formalities of establishment117.Committee established by contributories118.Obligations of liquidator to committee119.Meetings of the committee120.The Chair at meetings121.Quorum122.Committee-members' representatives123.Resignation124.Termination of membership125.Removal126.Vacancy (creditor members)127.Vacancy (contributory members)128.Voting rights and resolutions129.Resolutions by post130.Liquidator’s reports131.Expenses of members etc.132.Dealings by committee-members and others133.Composition of committee when creditors paid in full134.Committee’s functions vested in the Department135.Formal defectsPART 11 COLLECTION AND DISTRIBUTION OF BANK'S ASSETS BY BANK LIQUIDATOR136.General duties of bank liquidator137.General qualification on powers138.Manner of distributing assets139.Debts of insolvent company to rank equally140.Supplementary provisions as to dividend141.Division of unsold assets142.General powers of the liquidator143.Enforced delivery up of company’s property144.Final distributionPART 12 DISCLAIMER145.Liquidator’s notice of disclaimer146.Communication of disclaimer to persons interested147.Additional notices148.Duty to keep court informed149.Application by interested party under Article 152(4)150.Interest in property to be declared on request151.Disclaimer presumed valid and effective152.Application for exercise of court’s powers under Article 155PART 13 SETTLEMENT OF LIST OF CONTRIBUTORIES153.Preliminary154.Primacy of Objective 1155.Duty of liquidator to settle list156.Form of list157.Procedure for settling list158.Application to court for variation of the list159.Variation of, or addition to, the list160.Costs not to fall on bank liquidatorPART 14 CALLS161.Calls by liquidator162.Control by bank liquidation committee163.Application to court for leave to make a call164.Making and enforcement of the callPART 15 SPECIAL MANAGER165.Appointment and remuneration166.Security167.Failure to give or keep up security168.Accounting169.Termination of appointmentPART 16 ORDER OF PAYMENT AS TO COSTS, ETC. OUT OF ASSETS170.General rule as to priority171.Litigation expenses and property subject to a floating charge-general application172.Litigation expenses and property subject to a floating charge-requirement for approval or authorisation173.Litigation expenses and property subject to a floating charge-request for approval or authorisation174.Litigation expenses and property subject to a floating charge-grant of approval or authorisation175.Litigation expenses and property subject to a floating charge-application to court by the bank liquidator176.Saving for powers of the courtPART 17 MISCELLANEOUS RULESSECTION ARETURN OF CAPITAL177.Application to court for order authorising return of capital178.Procedure for return of capitalSECTION BCONCLUSION OF BANK INSOLVENCY179.Department’s directions under section 116 of the 2009 Act180.Procedure following appeal under section 116 of the 2009 ActSECTION CLEAVE TO ACT AS DIRECTOR, ETC. OF BANK WITH PROHIBITED NAME (ARTICLE 180 OF THE ORDER)181.Preliminary182.Application for leave under Article 180(3) before passing of full payment resolution183.Consideration of application for leave under Article 180(3)184.First excepted case185.Second excepted case186.Third excepted case187.Further exceptionPART 18 COURT PROCEDURE AND PRACTICECHAPTER 1 APPLICATIONS (GENERAL)188.Preliminary189.Interpretation190.Form and contents of application191.Application under Article 150A(5) to disapply Article 150A192.Filing and service of application193.Notice of application under section Article 150A(5)194.Other hearings without notice195.Hearing of application196.Use of affidavit evidence197.Filing and service of affidavits198.Use of reports199.Adjournment of hearing: directionsCHAPTER 3 SHORTHAND WRITERS200.Nomination and appointment of shorthand writers201.RemunerationCHAPTER 4 ENFORCEMENT PROCEDURES202.Enforcement of court orders203.Orders enforcing compliance with the rules204.Warrants (general provisions)205.Warrants under Article 200CHAPTER 5 COURT RECORDS AND RETURNS206.Title of proceedings207.Court records208.Inspection of records209.File of court proceedings and inspection210.Filing of Gazette notices and advertisementsCHAPTER 6 COSTS AND DETAILED ASSESSMENT211.Application of the Supreme Court Rules212.Requirement to assess costs by the detailed procedure213.Procedure where detailed assessment required214.Cost of officers charged with executions of writs or other process215.Costs paid otherwise than out of the insolvent estate216.Award of costs against responsible insolvency practitioner217.Application for costs218.Costs and expenses of witnessesCHAPTER 7 PERSONS INCAPABLE OF MANAGING THEIR AFFAIRS219.Introductory220.Appointment of another person to act221.Affidavit in support of application222.Service of notices following appointmentCHAPTER 8 APPEALS IN BANK INSOLVENCY PROCEEDINGS223.Appeals and review of court orders224.Procedure on appeal225.Appeal against a decision of the DepartmentCHAPTER 9 GENERAL226.Principal court rules and practice to apply227.Right of attendance228.Restriction on concurrent proceedings and remedies229.Security in court230.Further information and disclosure231.Office copies of documentsPART 19 PROXIES AND COMPANY REPRESENTATION232.Definition of “proxy”233.Issue and use of forms234.Use of proxies at meetings235.Retention of proxies236.Right of inspection237.Proxy-holder with financial interest238.Company representationPART 20 EXAMINATION OF PERSONS CONCERNED IN BANK INSOLVENCY239.Preliminary240.Form and contents of application241.Order for examination, etc242.Procedure for examination243.Record of examination244.Cost of proceedingsPART 21 DECLARATION AND PAYMENT OF DIVIDEND245.Preliminary246.Notice of intended dividend247.Final admission/rejection of proofs248.Postponement or cancellation of dividend249.Decision to declare dividend250.Notice of declaration251.Notice of no, or no further, dividend252.Proof altered after payment of dividend253.Secured creditors254.Disqualification from dividend255.Assignment of right to dividend256.Preferential creditors257.Debt payable at future timePART 22 MISCELLANEOUS AND GENERAL258.Power of Department to regulate certain matters259.Costs, expenses, etc260.Provable debts261.Notices262.Quorum at meeting of creditors or contributories263.Evidence of proceedings at meetings264.Documents issuing from the Department265.Insolvency practitioner’s security266.Time267.Service by post268.General provisions as to service269.Service outside the jurisdiction270.Confidentiality of documents271.Notices sent simultaneously to the same person272.Right to copy documents273.Charge for copy documents274.Non-receipt of notice of meeting275.Right to have list of creditors276.False claim of status as creditors277.Execution overtaken by judgement debtor’s insolvency278.The Gazette279.Punishment of offences280.Notice of order under Article 150A(5)PART 23 INTERPRETATION281.Introductory282.Expressions used generally283.“Give notice”, etc284.Notice, etc to solicitors285.Notice to joint bank liquidators286.“Insolvent estate”287.“Responsible insolvency practitioner”, etc288.The ScheduleSignatureSCHEDULEExplanatory NoteBack to topOptions/HelpPrint OptionsPrint Table of ContentsPDF table of contentsWeb page table of contentsPrint The Whole RulePDF The Whole RuleWeb page The Whole RuleYou have chosen to open The Whole RuleThe Whole Rule you have selected contains over 200 provisions and might take some time to download. 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