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The Investment Bank Special Administration (Scotland) Rules 2011

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Content of claim for client assets

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115.—(1) This rule applies to the submission of claims as described in regulation 11(1)(a).

(2) A person submitting a claim must submit that claim in writing to the administrator.

(3) The claim must—

(a)be made out by, or under the direction of, the claimant and must be signed by the claimant or a person authorised in that behalf; and

(b)state the following matters—

(i)the claimant’s name and address,

(ii)the total amount of client assets held or believed to be held for that claimant by the investment bank as at the time that the investment bank entered administration, categorised into type and securities of a particular description,

(iii)details as to the types of ownership the claimant asserts over those assets,

(iv)details of all financial contracts the claimant has entered into under which, at the time the claim is submitted, liabilities are still owed from either the investment bank to the claimant or vice versa, and

(v)details of any security granted by the claimant in respect of the client assets held by the investment bank; and

(c)the name, address and authority of the person signing the claim, if not the claimant.

(4) The claim shall specify details of any documents by reference to which the claim can be substantiated; but (subject to paragraph (5)), it is not essential that such documents be attached to the claim or submitted with it.

(5) Where the administrator thinks it necessary for the purpose of substantiating the whole or any part of a claim submitted, the administrator may—

(a)call for any document or other evidence to be produced; or

(b)send a request in writing for further information from the claimant.

(6) In this rule, “securities of a particular description” has the meaning set out in regulation 12(9).

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