96Grounds for applying
(1)In this section—
(a)Ground A is that a bank is unable, or likely to become unable, to pay its debts,
(b)Ground B is that the winding up of a bank would be in the public interest, and
(c)Ground C is that the winding up of a bank would be fair.
(2)The Bank of England may apply for a bank insolvency order only if—
(a)the FSA has informed the Bank of England that the FSA is satisfied that Conditions 1 and 2 in section 7 are met, and
(b)the Bank of England is satisfied—
(i)that the bank has eligible depositors, and
(ii)that Ground A or C applies.
(3)The FSA may apply for a bank insolvency order only if—
(a)the Bank of England consents, and
(b)the FSA is satisfied—
(i)that Conditions 1 and 2 in section 7 are met,
(ii)that the bank has eligible depositors, and
(iii)that Ground A or C applies.
(4)The Secretary of State may apply for a bank insolvency order only if satisfied—
(a)that the bank has eligible depositors, and
(b)that Ground B applies.
(5)The sources of information on the basis of which the Secretary of State may be satisfied of the matters specified in subsection (4) include those listed in section 124A(1) of the Insolvency Act 1986 (petition for winding up on grounds of public interest).