Search Legislation

Financial Services (Banking Reform) Act 2013

 Help about what version

What Version

 Help about advanced features

Advanced Features

 Help about opening options

Opening OptionsExpand opening options

Changes over time for: Section 123

 Help about opening options

No versions valid at: 21/04/2016

Alternative versions:

Status:

Point in time view as at 21/04/2016. This version of this provision is not valid for this point in time. Help about Status

Changes to legislation:

Financial Services (Banking Reform) Act 2013, Section 123 is up to date with all changes known to be in force on or before 06 November 2024. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations. Help about Changes to Legislation

Valid from 13/07/2018

123Restriction on making of ordinary administration ordersU.K.

This section has no associated Explanatory Notes

(1)This section applies where an ordinary administration application is made in relation to an infrastructure company by a person other than the Bank of England.

(2)The court must dismiss the application if—

(a)an FMI administration order is in force in relation to the company, or

(b)an FMI administration order has been made in relation to the company but is not yet in force.

(3)Where subsection (2) does not apply, the court, on hearing the application, must not exercise its powers under paragraph 13 of Schedule B1 to the 1986 Act (other than its power of adjournment) unless—

(a)the applicant has notified the Bank of England that the application has been made, and

(b)the period of 14 days beginning with the day on which the notice is received by the Bank has ended.

(4)On the making of an FMI administration order in relation to an infrastructure company, the court must dismiss any ordinary administration application made in relation to the company which is outstanding.

(5)Ordinary administration application” means an application under paragraph 12 of Schedule B1 to the 1986 Act.

Back to top

Options/Help

You have chosen to open The Whole Act

The Whole Act you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.

Would you like to continue?

You have chosen to open The Whole Act as a PDF

The Whole Act you have selected contains over 200 provisions and might take some time to download.

Would you like to continue?

You have chosen to open The Whole Act without Schedules

The Whole Act without Schedules you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.

Would you like to continue?

You have chosen to open The Whole Act without Schedules as a PDF

The Whole Act without Schedules you have selected contains over 200 provisions and might take some time to download.

Would you like to continue?

You have chosen to open the Whole Act

The Whole Act you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.

Would you like to continue?

You have chosen to open the Whole Act without Schedules

The Whole Act without Schedules you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.

Would you like to continue?

You have chosen to open Schedules only

The Schedules you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.

Would you like to continue?