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Special Administration (England and Wales): Notice for Insolvency Practitioners FAQs

Q. What is the Investment Bank Special Administration ( England and Wales)?

A. The Investment Bank Special Administration Regulations 2011 came into force on 8th February 2011. Investment Bank Special Administration has been introduced to ensure that there is minimum disruption to the financial markets in the event of a failure of an investment firm.

Following on from the implementation of the Regulations, the Investment Bank Special Administration Rules ( England and Wales) 2011 came into force on 30th June 2011. These Rules require documents to be delivered to the Registrar of Companies for England and Wales.

Please note that these Rules do not apply to Northern Ireland. Special Administration (Scotland) Rules came into force on 14th November 2011.

Q. What must I file with the Registrar of Companies in respect of an Investment Bank which enters Special Administration?

A. If you are an Insolvency Practitioner involved in a Special Administration of an Investment Bank, then Volume 2 of our Registrar’s Rules sets out the annotations required to existing forms to deliver information to the Registrar. You will need to annotate the relevant forms so they apply to Special Administration cases and deliver the forms to the Registrar of Companies. The table below lists the forms and the relevant annotations required.

For more information about Special Administration for Investment Banks, please read the HM Treasury website or view the consultation document.

Table of forms to be used and annotations to be made in Special Administration

Rule or regulation under which the document is delivered to the registrar Form number and name Annotation required to the form
Rule 51(4) 2.12B(CH)
Notice of administrator’s appointment
  • Replace ‘Rule 2.27’ with ‘Rule 51(4)’.
  • Replace ‘The Insolvency Act 1986’ with ‘The Investment Bank Special Administration Regulations 2011’.
Rule 54(7) 2.16B
Notice of statement of affairs
  • Replace ‘Rule 2.29’ with ‘Rule 54(7)’.
  • Replace ‘The Insolvency Act 1986’ with ‘The Investment Bank Special Administration Regulations 2011’.
Rule 59(1) 2.17B
Statement of administrator’s proposals
  • Replace ‘Rule 2.33’ with ‘Rule 59(1)’.
  • Replace ‘The Insolvency Act 1986’ with ‘The Investment Bank Special Administration Regulations 2011’.
Rule 61(3) 2.18B(CH)
Notice of extension of time period
  • Replace ‘Rule 2.33’ with ‘Rule 61(3)’.
  • Replace ‘The Insolvency Act 1986’ with ‘The Investment Bank Special Administration Regulations 2011’.
  • Delete ‘Paragraph 49(5)(b) of Schedule B1 of the Insolvency Act 1986 (“the Schedule”) has been extended to (c)’
  • Delete ‘Paragraph 50(1)(b) of the Schedule has been extended to (c)’
  • Replace ‘Paragraph 51(2)(b) of the Schedule’ with ‘Paragraph 51(2)(b) of the Schedule as applied by regulation 15 of The Investment Bank Special Administration Regulations 2011’
Rule 65(1) 2.22B(CH)
Statement of administrator’s revised proposals
  • Replace ‘2.45’ with ‘Rule 65(1)’.
  • Replace ‘The Insolvency Act 1986’ with ‘The Investment Bank Special Administration Regulations 2011’.
Rule 67(a) 2.23B(CH)
Notice of result of meeting of creditors
  • Replace ‘In accordance with Schedule B1, paragraph 53(2) of the Insolvency Act 1986’ with ‘Rule 67(a)’.
  • Replace ‘The Insolvency Act 1986’ with ‘The Investment Bank Special Administration Regulations 2011’.
Rule 123(1)(b) 2.24B(CH)
Administrator’s progress report
  • Replace ‘Rule 2.47’ with ‘Rule 123(1)(b)’.
  • Replace ‘The Insolvency Act 1986’ with ‘The Investment Bank Special Administration Regulations 2011’.
Rule 105 2.26B(CH)
[Amended] Certificate of constitution of creditors committee
  • Replace ‘Rule 2.51’ with ‘Rule 105’.
  • Replace ‘The Insolvency Act 1986’ with ‘The Investment Bank Special Administration Regulations 2011’.
Rule 131(5) 2.28B
Notice of order to deal with charged property
  • Replace ‘Rule 2.66’ with ‘Rule 131(5)’.
  • Replace ‘The Insolvency Act 1986’ with ‘The Investment Bank Special Administration Regulations 2011’.
Rule 223(1) 2.33B
Notice of court order ending administration
  • Replace ‘Rule 2.116’ with ‘Rule 223(1)’.
  • Replace ‘The Insolvency Act 1986’ with ‘The Investment Bank Special Administration Regulations 2011’.
Rule 224(1) 2.35B
Notice of move from administration to dissolution
  • Replace ‘Rule 2.118’ with ‘Rule 224(1)’.
  • Replace ‘The Insolvency Act 1986’ with ‘The Investment Bank Special Administration Regulations 2011’.
  • Replace ‘paragraph 84(1) of Schedule B1 to the Insolvency Act 1986’ with ‘paragraph 84(1) of Schedule B1 to the Insolvency Act 1986 as applied by regulation 15 of The Investment Bank Special Administration Regulations 2011’ 
Regulation 15 2.36B
Notice to registrar of companies in respect of date of dissolution
  • Replace ‘Rule 2.118’ with ‘Paragraph 84(8) of Schedule B1 of the Insolvency Act 1986, as applied by regulation 15 of The Investment Bank Special Administration Regulations 2011’.
  • Replace ‘The Insolvency Act 1986’ with ‘The Investment Bank Special Administration Regulations 2011’.
  • Replace ‘paragraph 84(7) of Schedule B1 to the Insolvency Act 1986’ with ‘paragraph 84(7) of Schedule B1 to the Insolvency Act 1986 as applied by regulation 15 of The Investment Bank Special Administration Regulations 2011’ 
Rule 208(5) 2.38B(CH)
Notice of resignation by administrator
  • Replace ‘Rule 2.121’ with ‘Rule 208(5)’.
  • Replace ‘The Insolvency Act 1986’ with ‘The Investment Bank Special Administration Regulations 2011’.
Rule 209(6), 210(a) or 211(2) 2.39B
Notice of vacation of office by administrator
  • Replace ‘Rule 2.122’ with ‘Rule 209(6), Rule 210(a), Rule 211(2)’.
  • Replace ‘The Insolvency Act 1986’ with ‘The Investment Bank Special Administration Regulations 2011’.
Rule 218(1) 2.40B
Notice of appointment of replacement / additional administrator
  • Replace ‘Rule 2.128’ with ‘Rule 218(1)’.
  • Replace ‘The Insolvency Act 1986’ with ‘The Investment Bank Special Administration Regulations 2011’.
Rule 32(7) or 50(3)(d) 4.15A
Notice of appointment of provisional liquidator in winding up by the court
  • Replace ‘Rule 4.26’ with ‘Rule 32(7), Rule 50(3)(d)’.
  • Replace ‘The Insolvency Act 1986’ with ‘The Investment Bank Special Administration Regulations 2011’.
  • Replace ‘Notice of appointment of provisional liquidator in winding up by the court’ with ‘Notice of appointment of provisional administrator by the court’.
  • Replace all references to ‘provisional liquidator’ with ‘provisional administrator’.
Rule 36(5) or 50(7) F4.39
Notice of termination of appointment of provisional liquidator
  • Replace ‘Rule 4.31’ with ‘Rule 36(5), Rule 50(7)’.
  • Replace ‘The Insolvency Act 1986’ with ‘The Investment Bank Special Administration Regulations 2011’.
  • Replace all references to ‘provisional liquidator’ with ‘provisional administrator’.
  • Delete ‘winding up petition date’.
Rule 188(3)(a) F10.2
Notice to registrar of companies of notice of disclaimer under section 178 of the Insolvency Act 1986
  • Replace ‘Rule 4.187’ with ‘Rule 188(3)(a)’.
  • Replace ‘The Insolvency Act 1986’ with ‘The Investment Bank Special Administration Regulations 2011’.
  • Replace ‘Section 178 of the Insolvency Act 1986’ with ‘Section 178 of the Insolvency Act 1986 as applied by regulation 15 of The Investment Bank Special Administration Regulations 2011’.
  • Replace all references to ‘liquidator’ with ‘administrator’.
Rule 249(5) 12.1
Notice to registrar of companies in respect of order under section 176A
  • Replace ‘Rule 12A.57’ with ‘Rule 249(5)’.
  • Replace ‘The Insolvency Act 1986’ with ‘The Investment Bank Special Administration Regulations 2011’.
  • Replace references to ‘Section 176A’ with ‘Section 176A as applied by regulation 15 of The Investment Bank Special Administration Regulations 2011’.
  • Replaces references to ‘Section 176A of the Insolvency Act 1986’ with ‘Section 176A of the Insolvency Act 1986 as applied by regulation 15 of The Investment Bank Special Administration Regulations 2011’.
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