Part 2Bank Insolvency

Tenure of bank liquidator

112Replacement

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.