Part 2Bank Insolvency

Tenure of bank liquidator

108Removal by court

1

A bank liquidator may be removed by order of the court on the application of—

a

the liquidation committee,

b

the FSA, or

c

the Bank of England.

2

Before making an application the FSA must consult the Bank of England.

3

Before making an application the Bank of England must consult the FSA.

4

A bank liquidator removed by order has release with effect from a time determined by—

a

the Secretary of State, or

b

in the case of a bank liquidator in Scotland, the Accountant of Court.