Part 2Bank Insolvency
Bank insolvency order
I197Grounds for making
1
The court may make a bank insolvency order on the application of the Bank of England or the FSA if satisfied—
a
that the bank has eligible depositors, and
b
that Ground A or C of section 96 applies.
2
The court may make a bank insolvency order on the application of the Secretary of State if satisfied—
a
that the bank has eligible depositors, and
b
that Grounds B and C of section 96 apply.
3
On an application for a bank insolvency order the court may—
a
grant the application in accordance with subsection (1) or (2),
b
adjourn the application (generally or to a specified date), or
c
dismiss the application.