90OverviewU.K.
This section has no associated Explanatory Notes
(1)This Part provides for a procedure to be known as bank insolvency.
(2)The main features of bank insolvency are that—
(a)a bank enters the process by court order,
(b)the order appoints a bank liquidator,
(c)the bank liquidator aims to arrange for the bank's eligible depositors to have their accounts transferred or to receive their compensation from the FSCS,
(d)the bank liquidator then winds up the bank, and
(e)for those purposes, the bank liquidator has powers and duties of liquidators, as applied and modified by the provisions of this Part.
(3)The Table describes the provisions of this Part.
| Sections | Topic |
|---|---|
| Sections 90 to 93 | Introduction |
| Sections 94 to 98 | Bank insolvency order |
| Sections 99 to 105 | Process of bank liquidation |
| Sections 106 to 112 | Tenure of bank liquidator |
| Sections 113 to 116 | Termination of process, &c. |
| Sections 117 to 122 | Other processes |
| Sections 123 to 135 | Miscellaneous |
Commencement Information
I1S. 90 in force at 21.2.2009 by S.I. 2009/296, art. 3, Sch. para. 2