Source: http://www.legislation.gov.uk/uksi/2010/2581/contents/made
Timestamp: 2013-05-21 10:41:24
Document Index: 310666658

Matched Legal Cases: ['ART 1', 'ART 2', 'ART 3', 'ART 4', 'ART 5', 'ART 6', 'ART 7', 'ART 8', 'ART 9', 'ART 10', 'art116', 'ART 11', 'ART 12', 'ART 13', 'ART 14', 'ART 15', 'ART 16', 'ART 17', 'ART 18', 'ART 19', 'ART 20', 'ART 21', 'ART 22', 'ART 23']

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Status:This is the original version (as it was originally made). UK Statutory Instruments 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.Time limitsPART 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 building society liquidator’s appointment18.Initial duties of building society liquidation committee19.Expenses of voluntary arrangementPART 3 PROVISIONAL BUILDING SOCIETY LIQUIDATOR20.Appointment of provisional building society 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 building society liquidator35.Meaning of “creditors”36.Report where statement of affairs lodged37.Statement of affairs dispensed with38.General rule as to reporting39.Building society insolvency stayedPART 6 MEETINGS OF CREDITORS AND CONTRIBUTORIES40.Meaning of “contributories”41.First meeting42.Business at first meetings of creditors and contributories43.General power to call meetings44.The chair at meetings45.Requisitioned meetings: general46.Requisitioned meetings: reforming the liquidation committee47.Attendance at meetings of building society’s personnel48.Notice of meetings by advertisement only49.Venue50.Expenses of summoning meetings51.Resolutions52.Chair of meeting as proxy–holder53.Suspension and adjournment54.Entitlement to vote (creditors)55.Entitlement to vote (contributories)56.Admission and rejection of proof (creditors’ meetings)57.Record of proceedingsPART 7 PROOF OF DEBTS58.Meaning of “prove”59.Supply of forms60.Contents of proof61.Claim established by witness statement62.Cost of proving63.Building society liquidator to allow inspection of proofs64.New building society liquidator appointed65.Admission and rejection of proofs for dividend66.Appeal against decision on proof67.Withdrawal or variation of proof68.Expunging of proof by the court69.Estimate of quantum70.Negotiable instruments, etc.71.Secured creditors72.Discounts73.Mutual credits and set–off74.Disapplication of set-off for eligible depositors75.Debt in foreign currency76.Payments of a periodical nature77.Interest78.Debt payable at future timePART 8 SECURED CREDITORS79.Value of security80.Surrender for non–disclosure81.Redemption by liquidator82.Test of security’s value83.Realisation of security by creditorPART 9 THE BUILDING SOCIETY LIQUIDATORCHAPTER 1 GENERAL84.Remuneration of building society liquidator85.Replacement of building society liquidator by creditors86.Authentication of building society liquidator’s appointment87.Appointment to be advertised and registeredCHAPTER 2 RESIGNATION AND REMOVAL88.Creditors’ meeting to be notified of the building society liquidator’s resignation89.Action following acceptance of resignation90.Advertisement of resignation91.Meeting of creditors to remove building society liquidator92.Court’s power to regulate meetings under rule 8993.Procedure on removal94.Advertisement of removal95.Removal of building society liquidator by the court96.Release of resigning or removed building society liquidatorCHAPTER 3 RELEASE ON COMPLETION OF WINDING UP97.Final meeting98.Rule as to reportingCHAPTER 4 REMUNERATION99.Fixing of remuneration100.Building society liquidator’s entitlement to remuneration where it is not fixed under rule 99101.Building society liquidator’s remuneration where he realises assets on behalf of chargeholder102.Other matters affecting remuneration103.Recourse of building society liquidator to meeting of creditors104.Recourse to the court105.Creditors’ claim that remuneration is excessive106.Primacy of Objective 1CHAPTER 5 SUPPLEMENTARY PROVISIONS107.Replacement building society liquidator108.Building society liquidator deceased109.Loss of qualification as insolvency practitioner110.Resignation of the building society liquidator111.Notice to Bank of England of intention to vacate office112.Building society liquidator’s duties on vacating office113.Power of court to set aside certain transactions114.Rule against solicitationPART 10 THE LIQUIDATION COMMITTEE115.Application of rules in this Part116.Membership of committee117.Formalities of establishment118.Committee established by contributories119.Obligations of liquidator to committee120.Meetings of the committee121.The chair at meetings122.Quorum123.Committee–members’ representatives124.Resignation125.Termination of membership126.Removal127.Vacancy (creditor members)128.Vacancy (contributory members)129.Voting rights and resolutions130.Resolutions by post131.Liquidator’s reports132.Expenses of members, etc.133.Dealings by committee–members and others134.Composition of committee when creditors paid in full135.Committee’s functions vested in the Secretary of State136.Formal defectsPART 11 COLLECTION AND DISTRIBUTION OF BUILDING SOCIETY’S ASSETS BY BUILDING SOCIETY LIQUIDATOR137.General duties of building society liquidator138.General qualification on powers139.Manner of distributing assets140.Debts of insolvent building society to rank equally141.Supplementary provisions as to dividend142.Division of unsold assets143.General powers of the liquidator144.Enforced delivery up of building society’s property145.Final distributionPART 12 DISCLAIMER146.Liquidator’s notice of disclaimer147.Communication of disclaimer to persons interested148.Additional notices149.Duty to keep court informed150.Application by interested party under section 178(5)151.Interest in property to be declared on request152.Disclaimer presumed valid and effective153.Application for exercise of court’s powers under s 181PART 13 SETTLEMENT OF LIST OF CONTRIBUTORIES154.Preliminary155.Primacy of Objective 1156.Duty of liquidator to settle list157.Form of list158.Procedure for settling list159.Application to court for variation of the list160.Variation of, or addition to, the list161.Costs not to fall on building society liquidatorPART 14 CALLS162.Calls by building society liquidator163.Control by building society liquidation committee164.Application to court for leave to make a call165.Making and enforcement of the callPART 15 SPECIAL MANAGER166.Appointment and remuneration167.Security168.Failure to give or keep up security169.Accounting170.Termination of appointmentPART 16 ORDER OF PAYMENT AS TO COSTS, ETC. OUT OF ASSETS171.General rule as to priority172.Litigation expenses and property subject to a floating charge–general application173.Litigation expenses and property subject to a floating charge–requirement for approval or authorisation174.Litigation expenses and property subject to a floating charge–request for approval or authorisation175.Litigation expenses and property subject to a floating charge–grant of approval or authorisation176.Litigation expenses and property subject to a floating charge–application to court by the building society liquidator177.Saving for powers of the courtPART 17 MISCELLANEOUS RULESCHAPTER 1 RETURN OF CAPITAL178.Application to court for order authorising return of capital179.Procedure for return of capitalCHAPTER 2 CONCLUSION OF BUILDING SOCIETY INSOLVENCY180.FSA’s directions under section 116 of the Banking Act181.Procedure following appeal under section 116 of the Banking ActPART 18 COURT PROCEDURE AND PRACTICECHAPTER 1 APPLICATIONS (GENERAL)182.Preliminary183.Interpretation184.Form and contents of application185.Application under section 176A(5) to disapply section 176A186.Filing and service of application187.Notice of application under section 176A(5)188.Other hearings without notice189.Hearing of application190.Use of evidence191.Filing and service of witness statements192.Use of reports193.Adjournment of hearings: directionsCHAPTER 2 SHORTHAND WRITERS194.Nomination and appointment of shorthand writers195.RemunerationCHAPTER 3 ENFORCEMENT PROCEDURES196.Enforcement of court orders197.Orders enforcing compliance with the Rules198.Warrants (general provisions)199.Warrants under section 236CHAPTER 4 COURT RECORDS AND RETURNS200.Title of proceedings201.Court records202.Inspection of records203.File of court proceedings and inspectionCHAPTER 5 COSTS AND DETAILED ASSESSMENT204.Application of the CPR205.Requirement to assess costs by the detailed procedure206.Procedure where detailed assessment required207.Costs of officers charged with executions of writs or other process208.Costs paid otherwise than out of the insolvent estate209.Award of costs against responsible insolvency practitioner210.Application for costs211.Costs and expenses of witnesses212.Final costs certificateCHAPTER 6 PERSONS INCAPABLE OF MANAGING THEIR AFFAIRS213.Introductory214.Appointment of another person to act215.Witness statement in support of application216.Service of notices following appointmentCHAPTER 7 APPEALS IN BUILDING SOCIETY INSOLVENCY PROCEEDINGS217.Appeals and review of court orders218.Procedure on appeal219.Appeal against a decision of the Secretary of StateCHAPTER 8 GENERAL220.Principal court rules and practice to apply221.Right of attendance222.Restriction on concurrent proceedings and remedies223.Security in court224.Payment into court225.Further information and disclosure226.Office copies of documentsPART 19 PROXIES227.Definition of “proxy”228.Issue and use of forms229.Use of proxies at meetings230.Retention of proxies231.Right of inspection232.Proxy–holder with financial interestPART 20 EXAMINATION OF PERSONS CONCERNED IN BUILDING SOCIETY INSOLVENCY233.Preliminary234.Form and contents of application235.Order for examination, etc.236.Procedure for examination237.Record of examination238.Costs of proceedingsPART 21 DECLARATION AND PAYMENT OF DIVIDEND239.Preliminary240.Notice of intended dividend241.Final admission/rejection of proofs242.Postponement or cancellation of dividend243.Decision to declare dividend244.Notice of declaration245.Notice of no, or no further, dividend246.Proof altered after payment of dividend247.Secured creditors248.Disqualification from dividend249.Assignment of right to dividend250.Preferential creditors251.Debt payable at future timePART 22 MISCELLANEOUS AND GENERAL252.Power of Secretary of State or Treasury to regulate certain matters253.Costs, expenses, etc.254.Provable debts255.Notices256.Quorum at meeting of creditors or contributories257.Evidence of proceedings at meetings258.Documents issuing from Secretary of State259.Insolvency practitioner’s security260.Time limits261.Service by post262.General provisions as to service263.Service outside the jurisdiction264.Confidentiality of documents265.Notices sent simultaneously to the same person266.Right to copy documents267.Charge for copy documents268.Non–receipt of notice of meeting269.Right to have list of creditors270.False claim of status as creditor, etc271.Execution overtaken by judgement debtor’s insolvency272.The Gazette273.Punishment of offences274.Notice of order under section 176A(5)PART 23 INTERPRETATION275.Introductory276.“The court”; “the registrar”277.“Give notice”, etc.278.Notice, etc. to solicitors279.Notice to joint building society liquidators280.“Insolvent estate”281.“Responsible insolvency practitioner”, etc.282.“The appropriate fee”283.“Debt”, “liability”284.Expressions used generally285.The ScheduleSignatureSCHEDULEExplanatory NoteBack to topOptions/HelpPrint OptionsPrint Table of ContentsPDF table of contentsWeb page table of contentsPrint The Whole InstrumentPDF The Whole InstrumentWeb page The Whole InstrumentYou have chosen to open The Whole InstrumentThe Whole Instrument you have selected contains over 200 provisions and might take some time to download. 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