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

General duties of bank liquidator

136.  Apply rule 4.179 of the 1986 Rules.

General qualification on powers

137.  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 assets

138.  Apply rule 4.180 of the 1986 Rules.

Debts of insolvent company to rank equally

139.  Apply rule 4.181 of the 1986 Rules(1).

Supplementary provisions as to dividend

140.  Apply rule 4.182 of the 1986 Rules.

Division of unsold assets

141.  Apply rule 4.183 of the 1986 Rules.

General powers of the liquidator

142.  Apply rule 4.184 of the 1986 Rules(2). In paragraph (1) leave out “section 165(2) or”.

Enforced delivery up of company’s property

143.  Apply rule 4.185 of the 1986 Rules.

Final distribution

144.  Apply rule 4.186 of the 1986 Rules(3). For “Part 11 of the Rules”, substitute “Part 21 of the 2009 Rules”.