247.—(1) The rules in this Part relate to the declaration and payment of dividends in a bank insolvency.
(2) In this Part—
“creditors” means those creditors of the bank of whom the bank liquidator is aware, or who are identified in the bank’s statement of affairs and
“the insolvent” means the bank.
248. Apply rule 11.2 of the 1986 Rules(1). Ignore paragraph (1)(b).
249. Apply rule 11.3 of the 1986 Rules(2). Ignore paragraph (4).
250. Apply rule 11.4 of the 1986 Rules.
251. Apply rule 11.5 of the 1986 Rules.
252.—(1) Apply rule 11.6 of the 1986 Rules(3).
(2) Ignore paragraph (1)(b)(4).
(3) In paragraph (2), after (b), add—
“(ba)expenses incurred by the bank liquidator in the achievement of objective 1 under section 99 of the Banking Act 2009.”
253. Apply rule 11.7 of the 1986 Rules.
254. Apply rule 11.8 of the 1986 Rules.
255. Apply rule 11.9 of the 1986 Rules.
256. Apply rule 11.10 of the 1986 Rules.
257. Apply rule 11.11 of the 1986 Rules.
258. Apply rule 11.12 of the 1986 Rules(5).
259. Apply rule 11.13 of the 1986 Rules(6). For paragraph (3) substitute “In paragraph (2), “relevant date” means the date of the commencement of bank insolvency.”
Rule 11.2 was amended by S.I. 2002/1307 and S.I. 1987/1919.
Paragraphs (3) and (4) were added by S.I. 2002/1307.
Paragraph (3)(b) was substituted by S.I. 2002/1307.
Sub–paragraphs (a) and (b) of rule 11.6(1) were amended by SI 2002/1307.
Paragraph (2) was amended by S.I.1987/1919.
Paragraph (2) and (3) were substituted for the original paragraph (2) by S.I. 2005/527.