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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,
(b)“the insolvent” means the bank.
246. Apply rule 11.02 of the 1991 Rules. Delete paragraph (1)(b) .
247. Apply rule 11.03 of the 1991 Rules. Delete paragraph (4).
248. Apply rule 11.04 of the 1991 Rules.
249. Apply rule 11.05 of the 1991 Rules.
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;”.
251. Apply rule 11.07 of the 1991 Rules.
252. Apply rule 11.08 of the 1991 Rules.
253. Apply rule 11.09 of the 1991 Rules.
254. Apply rule 11.10 of the 1991 Rules. For “the Order” substitute “the Order as applied by the 2009 Act”.
255. Apply rule 11.11 of the 1991 Rules.
256. Apply rule 11.12 of the 1991 Rules.
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.”.