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(1)Where a bank liquidator vacates office the Bank of England must as soon as is reasonably practicable appoint a replacement bank liquidator.
(2)But where a bank liquidator is removed by resolution of a meeting of creditors under section 109—
(a)a replacement may be appointed by resolution of the meeting, and
(b)failing that, subsection (1) above applies.
Commencement Information
I1S. 112 in force at 21.2.2009 by S.I. 2009/296, art. 3, Sch. para. 2