Schedule 17A, Part 3 Winding up, Administration or Insolvency of recognised clearing houses (paras. 34-35)
Notice to Bank of England of preliminary steps
(1) An application for an administration order in respect of a recognised clearing house or a recognised CSD may not be determined unless the conditions below are satisfied.
(2) A petition for a winding up order in respect of a recognised clearing house or a recognised CSD may not be determined unless the conditions below are satisfied.
(3) A resolution for voluntary winding up of a recognised clearing house or a recognised CSD may not be made unless the conditions below are satisfied.
(4) An administrator of a recognised clearing house or a recognised CSD may not be appointed unless the conditions below are satisfied.
(5) Condition 1 is that the Bank of England has been notified -
(a) by the applicant for an administration order, that the application has been made,