Skip to main content
Version status: In force | Document consolidation status: Updated to reflect all known changes
Version date: 1 January 2015 - onwards

62D. Resolution administrator: supplementary

(1) A resolution administrator may do anything necessary or desirable for the purposes of or in connection with the performance of the functions of the office.

(2) A resolution administrator is not a servant or agent of the Crown (and, in particular, is not a civil servant).

(3) Where a resolution administrator is appointed under this Part, the Bank of England -

(a) must make provision in the appointment instrument or a Part 1 instrument for the resignation and replacement of the resolution administrator;

(b) may remove the resolution administrator from office only (i) on the ground of incapacity or misconduct, or (ii) on the ground that there is no further need for a person to perform the functions conferred on the resolution administrator.