http://www.legislation.gov.uk/nisr/2009/122/part/21The Bank Insolvency (No. 2) Rules (Northern Ireland) 2009HearingsAppointments procedureenBANKING;BANK INSOLVENCYStatute Law Database2024-05-20Expert Participation2013-04-01
These Rules revoke and replace the Bank Insolvency Rules (Northern Ireland) 2009 to correct drafting errors in that instrument. They set out the procedure for the bank insolvency process under Part 2 of the Banking Act 2009 (c.1).
PART 21DECLARATION AND PAYMENT OF DIVIDEND
Preliminary
245
1
The rules in this Part relate to the declaration and payment of dividends in a bank insolvency.
2
In this part—
a
“creditors” means those creditors of the bank of whom the bank liquidator is aware, or who are identified in the bank’s statement of affairs; and
b
“the insolvent” means the bank.
Notice of intended dividend
246
1
Apply rule 11.02 of the 1991 Rules.
2
Delete paragraph (1)(b) .
Final admission/rejection of proofs
247
1
Apply rule 11.03 of the 1991 Rules.
2
Delete paragraph (4).
Postponement or cancellation of dividend
248
Apply rule 11.04 of the 1991 Rules.
Decision to declare dividend
249
Apply rule 11.05 of the 1991 Rules.
Notice of declaration
250
1
Apply rule 11.06 of the 1991 Rules.
2
Delete paragraph (1)(b).
3
In paragraph (2), after (b) add—
ba
expenses incurred by the bank liquidator in the achievement of objective 1 under section 99 of the Banking Act 2009;
.
Notice of no, or no further, dividend
251
Apply rule 11.07 of the 1991 Rules.
Proof altered after payment of dividend
252
Apply rule 11.08 of the 1991 Rules.
Secured creditors
253
Apply rule 11.09 of the 1991 Rules.
Disqualification from dividend
254
1
Apply rule 11.10 of the 1991 Rules.
2
For “the Order” substitute “the Order as applied by the 2009 Act”.
Assignment of right to dividend
255
Apply rule 11.11 of the 1991 Rules.
Preferential creditors
256
Apply rule 11.12 of the 1991 Rules.
Debt payable at future time
257
1
Apply rule 11.13 of the 1991 Rules.
2
For paragraph (3) substitute—
3
In paragraph (2) “relevant date” means the date of the commencement of the bank insolvency.
.
Rule 245 in operation at 1.4.2009, see rule 1(1)Rule 246 in operation at 1.4.2009, see rule 1(1)Rule 247 in operation at 1.4.2009, see rule 1(1)Rule 248 in operation at 1.4.2009, see rule 1(1)Rule 249 in operation at 1.4.2009, see rule 1(1)Rule 250 in operation at 1.4.2009, see rule 1(1)Rule 251 in operation at 1.4.2009, see rule 1(1)Rule 252 in operation at 1.4.2009, see rule 1(1)Rule 253 in operation at 1.4.2009, see rule 1(1)Rule 254 in operation at 1.4.2009, see rule 1(1)Rule 255 in operation at 1.4.2009, see rule 1(1)Rule 256 in operation at 1.4.2009, see rule 1(1)Rule 257 in operation at 1.4.2009, see rule 1(1)