Modifications etc. (not altering text)
C1Pt. 1 restricted (7.1.2010) by Banking Act 2009 (Exclusion of Insurers) Order 2010 (S.I. 2010/35), arts. 1, 2
C2Pt. 1: power to amend conferred (1.3.2014) by Financial Services (Banking Reform) Act 2013 (c. 33), ss. 17(3)(f), 148(5); S.I. 2014/377, art. 2(1)(b), Sch. Pt. 2
Textual Amendments
F1Pt. 1 Ch. 3 formed from ss. 4-83 (1.1.2015) by The Bank Recovery and Resolution Order 2014 (S.I. 2014/3329), arts. 1(2), 7
Textual Amendments
F2Ss. 62B-62E and cross-heading inserted (1.1.2015) by The Bank Recovery and Resolution Order 2014 (S.I. 2014/3329), arts. 1(2), 70
(1)A resolution administrator may do anything necessary or desirable for the purposes of or in connection with the performance of the functions of the office.
(2)A resolution administrator is not a servant or agent of the Crown (and, in particular, is not a civil servant).
(3)Where a resolution administrator is appointed under this Part, the Bank of England—
(a)must make provision in the appointment instrument or a Part 1 instrument for the resignation and replacement of the resolution administrator;
(b)may remove the resolution administrator from office only (i) on the ground of incapacity or misconduct, or (ii) on the ground that there is no further need for a person to perform the functions conferred on the resolution administrator.]