(1) The Bank of England may appoint an individual or body corporate as a resolution administrator.
(2) The power under subsection (1) may be exercised -
(a) by a separate instrument of appointment under this section, or
(b) by way of provision in a mandatory reduction instrument, a share transfer instrument, a property transfer instrument or a resolution instrument.
(3) In this section and sections 62C to 62E -
"appointment instrument" means an instrument under subsection (2)(a);
"Part 1 instrument" means an instrument of a kind mentioned in subsection (2)(b).
(4) A resolution administrator is appointed -
(a) to hold any securities that may be transferred or issued to that person in the capacity of resolution administrator, and
(b) to perform any other functions that may be conferred under any provision of this Part.
(5) The Bank of England may appoint more than one resolution administrator to perform functions in relation to a bank (but no more than one of them may at any one time be
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