PART 3Process of Bank Administration

Removal of bank administrator in Objective 1 StageI139

1

This Rule is about an application for removal of a bank administrator made by the Bank of England during the Objective 1 Stage (in accordance with the modifications for the application of paragraph 91 of Schedule B1 to the Order in Table 1 in section 145(6) of the 2009 Act).

2

The rules for service of notice of the application, other notification of the application and for the hearing shall be as for the application to appoint a bank administrator under Part 2 of these Rules.

3

But both the person proposed to be appointed as a replacement and the existing bank administrator are entitled to be served and heard.