(1) In this section -
(a) Ground A is that a bank is unable, or likely to become unable, to pay its debts,
(b) Ground B is that the winding up of a bank would be in the public interest, and
(c) Ground C is that the winding up of a bank would be fair.
(2) The Bank of England may apply for a bank insolvency order only if -
(a) the PRA is satisfied that Condition 1 in section 7 is met, and
(b) the Bank of England is satisfied -
(ai) that Condition 2 in section 7 is met,
(i) that the bank has eligible depositors, and
(ii) that Ground A or C applies.
(3) The PRA may apply for a bank insolvency order only if -
(a) the Bank of England is satisfied that Condition 2 in section 7 is met, and
(i) that Condition 1 in section 7 is met,
(ii) that the bank has eligible depositors, and
(iii) that Ground A or C applies.
(4) The Secretary of State may apply for a bank insolvency order only if satisfied -
(a) that the bank has eligible depositors, and
(b) that Ground B applies.
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