[F162D.Resolution administrator: supplementaryU.K.
(1)A resolution administrator may do anything necessary or desirable for the purposes of or in connection with the performance of the functions of the office.
(2)A resolution administrator is not a servant or agent of the Crown (and, in particular, is not a civil servant).
(3)Where a resolution administrator is appointed under this Part, the Bank of England—
(a)must make provision in the appointment instrument or a Part 1 instrument for the resignation and replacement of the resolution administrator;
(b)may remove the resolution administrator from office only (i) on the ground of incapacity or misconduct, or (ii) on the ground that there is no further need for a person to perform the functions conferred on the resolution administrator.]
Textual Amendments
F1Ss. 62B-62E and cross-heading inserted (1.1.2015) by The Bank Recovery and Resolution Order 2014 (S.I. 2014/3329), arts. 1(2), 70