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Version status: In force | Document consolidation status: Updated to reflect all known changes
Version date: 1 March 2017 - onwards
Version 5 of 5

117. Bank insolvency as alternative order

(1) On a petition for a winding up order or an application for an administration order in respect of a bank the court may, instead, make a bank insolvency order.

(2) A bank insolvency order may be made under subsection (1) only -

(a) on the application of the PRA made with the consent of the FCA, or

(b) on the application of the Bank of England.