Banking Act 2009 (c. 1)

Part 3 Bank Administration

Introduction

137 Objectives

(1) A bank administrator has two objectives—

(a) Objective 1: support for commercial purchaser or bridge bank (see section 138), and

(b) Objective 2: “normal” administration (see section 140).

(2) Objective 1 takes priority over Objective 2 (but a bank administrator is obliged to begin working towards both objectives immediately upon appointment).