The Building Society Insolvency Rules (Northern Ireland) 2014

Making, transmission and advertisement of order

16.—(1) The court shall not make a building society insolvency order unless the person nominated to be appointed as the building society liquidator in the application for the order has filed in court an affidavit under rule 13.

(2) When the building society insolvency order has been made the court shall immediately send five sealed copies (or such larger number as the building society liquidator may have requested) to the building society liquidator.

(3) The court shall also, if practicable, immediately send a copy of the order to the building society liquidator electronically.

(4) The building society liquidator shall serve a sealed copy of the order on the society at its principal office and, where the building society liquidator knows the society’s email address, shall send an electronic copy to the society.

(5) The building society liquidator shall send two copies of the order to—

(a) the Bank of England;

(b) the appropriate regulator;

(c) the FSCS;

(d) if there is in force for the society a voluntary arrangement under Part II of the 1989 Order, the supervisor of that arrangement; and

(e) if an administrative receiver has been appointed in relation to the society, that receiver;

in accordance with paragraph (6).

(6) One copy shall be sent electronically as soon as practicable and the other (a sealed copy) shall be sent by first class post on the business day on which the order is served on the society.

(7) The building society liquidator—

(a) shall cause notice of the order to be gazetted as soon as reasonably practicable , and

(b) may advertise notice of the order in such other manner as the building society liquidator thinks fit.