PART 3Process of Bank Administration
End of administration: dissolution49
1
This Rule supplements section 154(2)(a) of the Banking Act 2009 (bank administrator giving notice under paragraph 84 of Schedule B1 to the Insolvency Act 1986 that there are no more assets for distribution, and moving to dissolution).
2
The bank administrator’s notice under paragraph 84—
a
must be filed with the court in Form 2.35B (the form specified in rule 2.118 of the Insolvency Rules 1986 subject to Rule 7(2) above), and
b
must be accompanied by a final progress report.
3
The notice shall not take effect until the court discharges the bank administration order on the application of the bank administrator.
4
Before applying for discharge the bank administrator must send a copy of the notice under paragraph 84 and the progress report to—
a
the registrar of companies, and
b
each person who received notice of the bank administrator’s appointment.
5
After the expiry of the period mentioned in paragraph 84(6) (and subject to extension under paragraph 84(7)) if the court discharges the bank administration order—
a
the notice takes effect as specified in paragraph 84(6),
b
the court shall notify the bank administrator, who shall notify the registrar of companies.
6
If the court makes an order under paragraph 84(7) it shall notify the bank administrator in Form 2.36B (the form specified in rule 2.118 of the Insolvency Rules 1986 subject to Rule 7(2) above), who shall notify the registrar of companies.