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Investment Bank Special Administration Regulations 2011 [SI 2011 No. 245]Introductory TextRegulation 1 Citation and commencementRegulation 2 InterpretationRegulation 3 OverviewRegulation 4 Special administration orderRegulation 5 ApplicationRegulation 6 Grounds for applyingRegulation 7 Powers of the courtRegulation 8 Notice to appropriate regulator of preliminary steps to other insolvency proceedingsRegulation 9 Application where investment bank is a deposit-taking bankRegulation 10 Special administration objectivesRegulation 10A Objective 1 - duty of administrator to work with the FSCSRegulation 10B Objective 1 - transfer of client assetsRegulation 10C Restrictions on partial property transfers - general provisionRegulation 10D Restrictions on partial property transfers - set-off and netting arrangementsRegulation 10E Restrictions on partial property transfers - security interestsRegulation 10F Restrictions on partial property transfers - capital market arrangementsRegulation 10G Restrictions on partial property transfers - financial marketsRegulation 10H Objective 1 - post-administration reconciliation of accounts and records relating to client moneyRegulation 10I Objective 1 - removal of right to interest on unsecured claims for the return of client moneyRegulation 11 Objective 1 - distribution of client assetsRegulation 12 Objective 1 shortfall in client assets held in omnibus accountRegulation 12A Objective 1 - distribution of client moneyRegulation 12B Objectives 1 and 3 - client assets (other than client money) which the administrator is unable to return to clientsRegulation 12C Objectives 1 and 3 - client money which the administrator is unable to return to clientsRegulation 12D Powers of the court on application to set a hard bar dateRegulation 12E Bar date notices - procedural requirementsRegulation 12F Costs of making a claimRegulation 13 Objective 2 - engaging with market infrastructure bodies and the AuthoritiesRegulation 14 Continuity of supplyRegulation 15 General powers, duties and effectRegulation 16 Appropriate regulatorRegulation 17 Administrator's proposals in the event of Appropriate regulator directionRegulation 18 Revision of proposals in the event of Appropriate regulator directionRegulation 19 Appropriate regulator direction withdrawnRegulation 19A Responsibility for certain costs of the administrationRegulation 20 Successful rescueRegulation 21 Dissolution or voluntary arrangementRegulation 22 Special administration order as an alternative orderRegulation 23 Disqualification of directorsRegulation 24 Limited liability partnershipsRegulation 25 PartnershipsRegulation 26 Northern Irish equivalent enactmentsRegulation 27 Modifications and consequential amendments to legislationSchedule 1 Special administration (bank insolvency)Schedule 2 Special administration (bank administration)Schedule 3 Application of these Regulations to limited liability partnershipsSchedule 4 Application of these Regulations to partnershipsSchedule 5 Table of enactments referred to in these Regulations together with the equivalent enactment having effect in relation to Northern IrelandSchedule 6 Modifications and consequential amendmentsSchedule 6, Part 1Schedule 6, Part 2 Specific modificationsSchedule 6, Part 3 Consequential amendmentsSignatureExplanatory NoteExplanatory MemorandumImpact Assessment
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Version status: In force | Document consolidation status: Updated to reflect all known changes
Version date: 8 February 2011 - onwards
Version 2 of 2

Regulation 24 Limited liability partnerships

Where an investment bank is formed as a limited liability partnership, Schedule 3 (application of these Regulations to limited liability partnerships) has effect.

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