| | | In the case of administration following |
| | |
| | | transfer to a bridge bank, until the Bank of |
| | |
| | | England has given an Objective 1 |
| | 5 |
| | | Achievement Notice an application may be |
| | |
| | | made only with the Bank of England’s |
| | |
| | | | | |
| | Protection for secured and |
| (a) | Treat a reference to proposals as |
| | |
| | | including a reference to the |
| | 10 |
| | | principles specified in the |
| | |
| | | modification of para. 68 set out |
| | |
| | | | | |
| | | (b) | Para. 73(1)(a) does not apply until |
| | |
| | | the Bank of England has given an |
| | 15 |
| | | Objective 1 Achievement Notice. |
| | |
| | Challenge to administrator’s |
| (a) | The Bank of England may make an |
| | |
| | | application to the court, on any |
| | |
| | | grounds, including grounds of |
| | |
| | | insufficient pursuit of Objective 1 in |
| | 20 |
| | | section 131 (in addition to |
| | |
| | | applications that may anyway be |
| | |
| | | | | |
| | | (b) | Until the Bank of England has given |
| | |
| | | an Objective 1 Achievement Notice, |
| | 25 |
| | | an order may be made on the |
| | |
| | | application of a creditor only if the |
| | |
| | | court is satisfied that it would not |
| | |
| | | prejudice pursuit of Objective 1 in |
| | |
| | | | | 30 |
| | | In addition to applications that may anyway |
| | |
| | | be made under para. 75, an application may |
| | |
| | | be made by the bank administrator or the |
| | |
| | | | | |
| | Termination: successful rescue |
| | | 35 |
| | Termination: no more assets for |
| | | |
| | | | | |
| | Discharge of administration |
| | | |
| | | | | |
| | Notice to Companies Registrar |
| | | 40 |
| | | | | |
| | | A bank administrator may resign only by |
| | |
| | | | | |
| | | (a) | to the court, copied to the Bank of |
| | |
| | | | | 45 |
| | | (b) | in the case of a bank administrator |
| | |
| | | appointed by the creditors’ |
| | |
| | | committee under para. 90, to the |
| | |
| | | | | |
| | | Until the Bank of England has given an |
| | 50 |
| | | Objective 1 Achievement Notice, an |
| | |
| | | application for an order may be made only |
| | |
| | | with the Bank of England’s consent. |
| | |
| | | The notice under sub-para. (2) must be given |
| | |
| | | | | 55 |