107(1)This paragraph applies to a CCP if—
(a)a stabilisation power has been exercised in respect of the CCP, or
(b)the conditions in paragraph 17 are met in relation to the CCP.
(2)Insolvency proceedings may not be commenced in relation to the CCP except by, or with the consent of, the Bank.
(3)For the purposes of sub-paragraph (2), the commencement of insolvency proceedings means—
(a)making an application for an administration order,
(b)presenting a petition for winding up,
(c)proposing a resolution for voluntary winding up, or
(d)appointing an administrator.
Commencement Information
I1Sch. 11 para. 107 not in force at Royal Assent, see s. 86(3)
I2Sch. 11 para. 107 in force at 31.12.2023 by S.I. 2023/1382, reg. 8(b)