Banking Act 2009

90 Overview

(1) This Part provides for a procedure to be known as bank insolvency.

(2) The main features of bank insolvency are that—

(a) a bank enters the process by court order,

(b) the order appoints a bank liquidator,

(c) the bank liquidator aims to arrange for the bank’s eligible depositors to have their accounts transferred or to receive their compensation from the FSCS,

(d) the bank liquidator then winds up the bank, and

(e) for those purposes, the bank liquidator has powers and duties of liquidators, as applied and modified by the provisions of this Part.

(3) The Table describes the provisions of this Part.

Sections	Topic
Sections 90 to 93	Introduction
Sections 94 to 98	Bank insolvency order
Sections 99 to 105	Process of bank liquidation
Sections 106 to 112	Tenure of bank liquidator
Sections 113 to 116	Termination of process, &c.
Sections 117 to 122	Other processes
Sections 123 to 135	Miscellaneous