Search Legislation

The Investment Bank Special Administration Regulations 2011

 Help about what version

What Version

  • Latest available (Revised)
  • Original (As made)

Status:

This is the original version (as it was originally made). This item of legislation is currently only available in its original format.

  1. Introductory Text

  2. 1.Citation and commencement

  3. 2.Interpretation

  4. 3.Overview

  5. 4.Special administration order

  6. 5.Application

  7. 6.Grounds for applying

  8. 7.Powers of the court

  9. 8.Notice to FSA of preliminary steps to other insolvency proceedings

  10. 9.Application where investment bank is a deposit-taking bank

  11. 10.Special administration objectives

  12. 11.Objective 1 – distribution of client assets

  13. 12.Objective 1 - shortfall in client assets held in omnibus account

  14. 13.Objective 2 – engaging with market infrastructure bodies and the Authorities

  15. 14.Continuity of supply

  16. 15.General powers, duties and effect

  17. 16.FSA direction

  18. 17.Administrator’s proposals in the event of FSA direction

  19. 18.Revision of proposals in the event of FSA direction

  20. 19.FSA direction withdrawn

  21. 20.Successful rescue

  22. 21.Dissolution or voluntary arrangement

  23. 22.Special administration order as an alternative order

  24. 23.Disqualification of directors

  25. 24.Limited liability partnerships

  26. 25.Partnerships

  27. 26.Northern Irish equivalent enactments

  28. 27.Modifications and consequential amendments to legislation

  29. Signature

    1. SCHEDULE 1

      Special administration (bank insolvency)

      1. 1.This Schedule provides for a procedure known as special administration...

      2. 2.A special administration (bank insolvency) order is an order appointing...

      3. 3.A special administration (bank insolvency) order is to be treated...

      4. 4.(1) An administrator appointed under a special administration (bank insolvency)...

      5. 5.(1) The provisions of the Insolvency Act as applied by...

      6. 6.(1) The provisions of Part 2 of the Act (bank...

      7. 7.Section 120 of the Act is applied with the following...

      8. 8.(1) Section 135 of the Insolvency Act is applied with...

      9. 9.In this Schedule— “eligible depositor” has the meaning set out...

    2. SCHEDULE 2

      Special administration (bank administration)

      1. 1.General provisions

      2. 2.A special administration (bank administration) order is an order appointing...

      3. 3.(1) An administrator appointed under a special administration (bank administration)...

      4. 4.An administrator appointed under a special administration (bank administration) order...

      5. 5.A special administration (bank administration) order is to be treated...

      6. 6.Application of Part 3 of the Act and the Insolvency Act

      7. 7.Statement of proposals

      8. 8.(1) The statement is to be agreed with the Bank...

      9. 9.(1) The administrator shall send the statement to—

      10. 10.Meeting of creditors and clients to approve statement

      11. 11.Revision to the statement of proposals (Objective A not yet achieved)

      12. 12.Revision to the statement of proposals (Objective A achieved and no FSA direction)

      13. 13.Revision to the statement of proposals (Objective A achieved and FSA direction has not been withdrawn)

      14. 14.Powers of the court

      15. 15.Ending of special administration (bank administration) (rescue)

      16. 16.Ending of special administration (bank administration) (dissolution or voluntary arrangement

      17. 17.Interpretation

    3. SCHEDULE 3

      Application of these Regulations to limited liability partnerships

      1. 1.In this Schedule, “the 2001 Regulations” means the Limited Liability...

      2. 2.These Regulations apply where the investment bank is a limited...

      3. 3.(1) Those provisions of the Insolvency Act, as applied and...

      4. 4.(1) The provisions of the Disqualification Act shall apply with...

      5. 5.Application to Scotland

      6. 6.Subordinate legislation

    4. SCHEDULE 4

      Application of these Regulations to partnerships

      1. 1.In this Schedule, “the 1994 Order” means the Insolvent Partnerships...

      2. 2.These Regulations apply where the investment bank is a partnership...

      3. 3.In the application of these Regulations and the Disqualification Act...

      4. 4.(1) The provisions of Schedule B1 as applied by regulation...

      5. 5.(1) The provisions of the Insolvency Act other than those...

    5. SCHEDULE 5

      Table of enactments referred to in these Regulations together with the equivalent enactment having effect in relation to Northern Ireland

    6. SCHEDULE 6

      Modifications and consequential amendments

      1. PART 1

        1. 1.(1) Where this Part of this Schedule applies, the enactments...

        2. Primary Legislation

        3. Secondary Legislation

      2. PART 2 Specific modifications

        1. 2.Where this Part of this Schedule applies, the enactments set...

        2. 3.Financial Services and Markets Act 2000

        3. 4.Pensions Act 2004

        4. 5.Companies Act 2006

        5. 6.Land Registration Rules 2003

        6. 7.Credit Institutions (Reorganisation and Winding Up) Regulations 2004

      3. PART 3 Consequential amendments

        1. 8.Companies Act 1985

        2. 9.Finance Act 1986

  30. Explanatory Note

Back to top

Options/Help

Print Options

Close

Legislation is available in different versions:

Latest Available (revised):The latest available updated version of the legislation incorporating changes made by subsequent legislation and applied by our editorial team. Changes we have not yet applied to the text, can be found in the ‘Changes to Legislation’ area.

Original (As Enacted or Made): The original version of the legislation as it stood when it was enacted or made. No changes have been applied to the text.

Close

Opening Options

Different options to open legislation in order to view more content on screen at once

Close

Explanatory Memorandum

Explanatory Memorandum sets out a brief statement of the purpose of a Statutory Instrument and provides information about its policy objective and policy implications. They aim to make the Statutory Instrument accessible to readers who are not legally qualified and accompany any Statutory Instrument or Draft Statutory Instrument laid before Parliament from June 2004 onwards.

Close

More Resources

Access essential accompanying documents and information for this legislation item from this tab. Dependent on the legislation item being viewed this may include:

  • the original print PDF of the as enacted version that was used for the print copy
  • lists of changes made by and/or affecting this legislation item
  • confers power and blanket amendment details
  • all formats of all associated documents
  • correction slips
  • links to related legislation and further information resources
Close

Impact Assessments

Impact Assessments generally accompany all UK Government interventions of a regulatory nature that affect the private sector, civil society organisations and public services. They apply regardless of whether the regulation originates from a domestic or international source and can accompany primary (Acts etc) and secondary legislation (SIs). An Impact Assessment allows those with an interest in the policy area to understand:

  • Why the government is proposing to intervene;
  • The main options the government is considering, and which one is preferred;
  • How and to what extent new policies may impact on them; and,
  • The estimated costs and benefits of proposed measures.
Close

More Resources

Use this menu to access essential accompanying documents and information for this legislation item. Dependent on the legislation item being viewed this may include:

  • the original print PDF of the as made version that was used for the print copy
  • correction slips

Click 'View More' or select 'More Resources' tab for additional information including:

  • lists of changes made by and/or affecting this legislation item
  • confers power and blanket amendment details
  • all formats of all associated documents
  • links to related legislation and further information resources