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Banking Act 2009

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Changes over time for: Section 117

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Point in time view as at 31/12/2020.

Changes to legislation:

Banking Act 2009, Section 117 is up to date with all changes known to be in force on or before 18 November 2024. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations. Help about Changes to Legislation

117Bank insolvency as alternative orderU.K.

This section has no associated Explanatory Notes

(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

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