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The Investment Bank Special Administration (Scotland) Rules 2011

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Application to court by administrator

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150.—(1) An application under paragraph 79 for an order providing for the appointment of an administrator of the investment bank to cease to have effect shall be accompanied by—

(a)a progress report for the period since the last such report (if any); and

(b)a statement indicating what the administrator thinks should be the next steps for the investment bank (if applicable).

(2) Before making the application under paragraph (1), administrator shall give notice in writing of the administrator’s intention to apply to—

(a)the applicant for the special administration order under which the administrator was appointed;

(b)the creditors and clients;

(c)the FSA;

(d)in a special administration (bank insolvency), the Bank of England; and

(e)in a special administration (bank administration), the Bank of England and the FSCS.

(3) Notice under paragraph (2) shall be give at least 5 business days before the date on which the administrator intends to make the application.

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