The Investment Bank Special Administration Regulations 2011

Changes over time for: PART 1

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Changes and effects yet to be applied to Schedule 6 Part 1:

Sch 6 pt 1 words inserted by S.R. 2022/168 reg. 17(2)
Sch. 6 Pt. 1 words inserted by S.R. 2023/157 reg. 17(2)
Sch. 6 Pt. 1 words inserted by S.R. 2023/56 reg. 17(2)
Sch. 6 Pt. 1 words inserted by S.I. 2020/354 reg. 23(2)
Sch. 6 Pt. 1 words omitted by S.I. 2019/348 Sch. 3 para. 32
Regulations amendment to earlier affecting provision S.I. 2019/710, reg. 39 by S.I. 2020/1301 reg. 3 Sch. para. 43(l)
Regulations modified (temp.) by S.I. 2019/710 reg. 39

Changes and effects yet to be applied to the whole Instrument associated Parts and Chapters:

Whole provisions yet to be inserted into this Instrument (including any effects on those provisions):

Sch. 2 para. 10(7) inserted by S.I. 2018/208 reg. 13(6)(a)
Sch. 2 para. 11(9) inserted by S.I. 2018/208 reg. 13(6)(b)
Sch. 2 para. 12(5) inserted by S.I. 2018/208 reg. 13(6)(c)
Sch. 2 para. 16(3)(ba) inserted by S.I. 2018/208 reg. 13(6)(d)
Sch. 2 para. 16(3)(ba) word substituted by 2020 c. 12 Sch. 3 para. 48(b)
Sch. 2 para. 16(3)(ba) words omitted by 2020 c. 12 Sch. 3 para. 48(a)
reg. 8(1A) amendment to earlier affecting provision S.I. 2021/716, reg. 5 by S.I. 2023/1399 reg. 4
reg. 8(1A) inserted by S.I. 2021/716 Sch. 4 para. 5(2)(a)
reg. 15(7) inserted by S.I. 2018/208 reg. 13(2)
reg. 21(5A) inserted by S.I. 2018/208 reg. 13(5)
reg. 21(5A) word substituted by 2020 c. 12 Sch. 3 para. 47(b)
reg. 21(5A) words omitted by 2020 c. 12 Sch. 3 para. 47(a)

PART 1 U.K.

1.—(1) Where this Part of this Schedule applies, the enactments set out below apply with the following modifications.U.K.

(2) References to—

(a)an administrator appointed in respect of a Schedule B1 administration include a reference to an administrator appointed under a special administration order;

(b)administration under Schedule B1 or “insolvent administration” include a reference to special administration;

(c)“administration order” include a reference to a special administration order;

(d)“insolvency legislation”, the “general law of insolvency”, the “enactments relating to insolvency” and similar expressions include special administration and the provisions of the Insolvency Act as applied by these Regulations;

(e)becoming insolvent, or an “insolvency event” occurring in respect of the investment bank includes being put into special administration and “insolvency proceedings” or an “insolvency procedure” include special administration;

(f)“winding up”, being “wound up”, “wound up by the court” “going into liquidation” or “compulsory liquidation” include being put into special administration, and a “winding-up order” include a special administration order (and, in this context, “liquidator” shall be read as “administrator”);

(g)a person acting as an insolvency practitioner within the meaning of section 388 of the Insolvency Act include a person acting as an administrator under these Regulations;

(h)the provisions of the Insolvency Act include those provisions as applied and modified by these Regulations; and

(i)the provisions of the Insolvency Rules 1986 M1, the Insolvency Rules (Northern Ireland) 1991 M2 and the Insolvency (Scotland) Rules 1986 M3 include the provisions of insolvency rules made under section 411 of the Insolvency Act as applied by regulation 15(6).

(3) A reference to insolvency or liquidation within the meaning of section 247 of the Insolvency Act includes a reference to special administration.

(4) A reference to the “purposes of the Insolvency Act 1986” includes a reference to the purposes of these Regulations.

Marginal Citations

M1S.I. 1986/1925.

M2S.R. 1991 No. 364.

M3S.I. 1986/1915.