Financial Services (Banking Reform) Act 2013 (c. 33)

PART 6 U.K. Special administration for operators of certain infrastructure systems

Valid from 13/07/2018

Restrictions on other insolvency procedures U.K.

122 Restriction on winding-up orders and voluntary winding up U.K.

(1) A petition by a person other than the Bank of England for a winding up order in respect of an infrastructure company may not be determined unless—

(a) the petitioner has notified the Bank of England that the petition has been presented, and

(b) the period of 14 days beginning with the day on which the notice is received by the Bank has ended.

(2) A resolution for the voluntary winding up of an infrastructure company may not be made unless—

(a) the infrastructure company has applied to the court under this section,

(b) the company has notified the Bank of England that the application has been made, and

(c) after the end of the period of 14 days beginning with the day on which the notice is received by the Bank, the court gives permission for the resolution to be made.