PART 11COLLECTION AND DISTRIBUTION OF BANK'S ASSETS BY BANK LIQUIDATOR

General duties of bank liquidator136

Apply rule 4.188 of the 1991 Rules.

General qualification on powers137

In exercising any power conferred on the bank liquidator by this Part before a full payment resolution has been passed, the bank liquidator shall exercise it consistently with Objective 1.

Manner of distributing assets138

Apply rule 4.189 of the 1991 Rules.

Debts of insolvent company to rank equally139

Apply rule 4.190 of the 1991 Rules.

Supplementary provisions as to dividend140

Apply rule 4.191 of the 1991 Rules.

Division of unsold assets141

Apply rule 4.193 of the 1991 Rules.

General powers of the liquidator142

Apply rule 4.194 of the 1991 Rules. In paragraph (1) delete “under Article 142(1)(a), or”.

Enforced delivery up of company’s property143

Apply rule 4.195 of the 1991 Rules.

Final distribution144

Apply rule 4.196 of the 1991 Rules. In paragraphs (1) and (2) for “Part 11”, substitute “Part 21”.