The Investment Bank Special Administration (Scotland) Rules 2011

Right of inspection

This section has no associated Explanatory Memorandum

105.—(1) The administrator shall, so long as proxies lodged with the administrator are in the administrator’s hands, allow them to be inspected at all reasonable times on any business day, by—

(a)the creditors, in the case of proxies used at a meeting of creditors, or a meeting of creditors and clients;

(b)the clients, in the case of proxies used at a meeting of clients, or a meeting of creditors and clients; and

(c)the investment bank’s members or contributories, in the case of proxies used at a meeting of the members of the investment bank or of its contributories.

(2) A reference in paragraph (1) to a creditor or a client is to a person who has submitted a claim in writing to the administrator but does not include a person whose claim has been wholly rejected for purposes of voting or otherwise.

(3) The right of inspection given by this rule is also exercisable by the directors of the investment bank in special administration.

(4) Any person attending a meeting in a special administration is entitled, immediately before or in the course of the meeting, to inspect proxies and associated documents (including claims)—

(a)to be used in connection with that meeting; or

(b)sent or given to the chair of that meeting or to any other person by a creditor, client, member or contributory for the purpose of that meeting, whether or not they are to be used at it.