PART 14MEETINGS
Summoning of meetings97
Apply rule 7.2 of the 1986 Rules.
Notice of meeting98
1
Apply rule 7.3 of the 1986 Rules44.
2
Ignore rule 7.3(2) and (7).
3
For rule 7.3(3) substitute “The convenor may also publish notice of the date, time and place of the meeting in such newspaper as he thinks most appropriate for ensuring that it comes to the notice of the persons who are entitled to attend the meeting.”.
4
In rule 7.3(3A) omit “or, in cases” to the end.
5
In rule 7.3(4), for the words “section 171(2) or 172(2)”, substitute “section 108 of the 2009 Act”.
Chair of meetings99
1
Meetings shall be chaired by the bank liquidator or a person nominated in writing by the bank liquidator.
2
A person nominated under paragraph (1) must be–
a
qualified to act as an insolvency practitioner in accordance with section 390 of the 1986 Act; or
b
an employee of the bank liquidator or of the bank liquidator’s firm who is experienced in insolvency matters.
Meetings requisitioned100
1
Apply rule 7.6(1) to (8) of the 1986 Rules45.
2
For rule 7.6(1) substitute “Subject to paragraph (8), this rule applies to any request by a creditor or creditors to a bank liquidator for a meeting of creditors, separate meetings of creditors or contributories or for any other meeting under any other provision of the 1986 Act as applied by the 2009 Act, or these rules.”.
3
In rule 7.6(3), (4) and (5) ignore “the administrator, or, as the case may be”.
Requisitioned meetings reforming the liquidation committee101
1
Rule 7.6 of the 1986 Act also applies where–
a
the liquidation committee has ceased to exist at the end of the first meeting of creditors under rule 24 and no further steps have been taken to re-establish that committee; and
b
the bank liquidator has been requested by no less than one-tenth in value of the bank’s creditors to summon a meeting for the purpose of re-establishing the liquidation committee.
2
Where a meeting is requisitioned to reform the liquidation committee, the time periods set out in rule 7.6 of the 1986 Rules may be expedited by the bank liquidator on request of the bank’s creditors.
3
The bank liquidator shall give notice of the meeting to the FSA and the Bank of England.
4
Rule 24(1), (2) and (3) shall then apply at this meeting as it were the first meeting of the creditors.
Quorum102
Apply rule 7.7 of the 1986 Rules46.
Adjournment103
Apply rule 7.8(1) to (6) of the 1986 Rules47.
Entitlement to vote (creditors)104
Apply rule 7.9(1) to (3) of the 1986 Rules48.
Entitlement to vote (members and contributories)105
Apply rule 7.10 of the 1986 Rules49.
Chair of meeting as proxy holder106
Apply rule 7.11(1) of the 1986 Rules.
Resolutions107
Apply rule 7.12 of the 1986 Rules50.
Report of meeting108
Apply rule 7.13 of the 1986 Rules.
Application under section 176A(5) to disapply section 176A109
Apply rule 7.13A of the 1986 Rules.
Notice of order under section 176A(5)110
1
Apply rule 7.13B of the 1986 Rules.
2
In rule 7.13B(1)(b) omit the words “receiver or”.
Definition of “proxy”111
Apply rule 7.14 of the 1986 Rules51.
Form of proxy112
Apply rule 7.15 of the 1986 Rules.
Use of proxy at meeting113
Apply rule 7.16 of the 1986 Rules52.
Retention of proxies114
Apply rule 7.17 of the 1986 Rules.
Right of inspection115
1
Apply rule 7.18 of the 1986 Rules53.
2
In rule 7.18(1)(b) for the words “a company’s members or”, substitute “the company’s”.
3
For rule 7.18 (2) substitute–
2
The reference in paragraph (1) to creditors is to those creditors whose claims have been accepted in whole or in part but does not include a person whose claim has been wholly rejected for purposes of voting, dividend or otherwise.
Proxy holder with financial interest116
Apply rule 7.19 of the 1986 Rules54.
Representation of corporations117
1
Apply rule 7.20 of the 1986 Rules55.
2
In rule 7.20(1) the reference to section 375 of the Companies Act should be read as section 323 of the Companies Act 200656.
3
For rule 7.20(2), substitute “The copy resolution must be signed or subscribed by or on behalf of the bank in accordance with the provisions of the Requirements of Writing (Scotland) Act 199557 or certified by the secretary or director of the bank to be a true copy.”.