xmlns:atom="http://www.w3.org/2005/Atom" xmlns:atom="http://www.w3.org/2005/Atom"

Part 2U.K.Bank Insolvency

Other processesU.K.

117Bank insolvency as alternative orderU.K.

(1)On a petition for a winding up order or an application for an administration order in respect of a bank the court may, instead, make a bank insolvency order.

(2)A bank insolvency order may be made under subsection (1) only—

(a)on the application of the [F1PRA] made with the consent of F2... [F3the FCA], or

(b)on the application of the Bank of England.

Textual Amendments

F1Word in s. 117(2)(a) substituted (1.4.2013) by Financial Services Act 2012 (c. 21), s. 122(3), Sch. 17 para. 43(a) (with Sch. 20); S.I. 2013/423, art. 3, Sch.

Commencement Information

I1S. 117 in force at 21.2.2009 by S.I. 2009/296, art. 3, Sch. para. 2