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The Investment Bank Special Administration (Scotland) Rules 2011

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Termination of appointment

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22.—(1) The appointment of a person (“P”) under rule 17 may be terminated by the court on P’s application, or the application of—

(a)the Bank of England; or

(b)the FSA (with the consent of the Bank of England).

(2) If P’s appointment terminates in consequence of the dismissal of the application for the special administration (bank insolvency) order, the court may give such directions as it thinks fit with respect to—

(a)the accounts of P’s administration;

(b)the expenses properly incurred by P; or

(c)other matters which it thinks appropriate.

(3) On the making of a special administration (bank insolvency) order, P’s appointment shall terminate.

(4) Unless the court directs otherwise, where the appointment is terminated, P shall give notice of that termination. Such notice—

(a)shall be advertised once in the Edinburgh Gazette; and

(b)may be advertised in such other manner as P thinks fit.

(5) P shall send notice of the termination of their appointment to the registrar of companies.

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