Application to replace (special administration (bank administration))
This section has no associated Explanatory Memorandum
144.—(1) This rule applies in a special administration (bank administration) before the Bank of England has given an Objective A Achievement Notice.
(2) Where there is a vacancy in the office of administrator the Bank of England must appoint a replacement administrator as soon as reasonably practicable.
(3) Where an application is made by the Bank of England to remove or replace an administrator, the rules in Chapter 3 of Part 2 for the application to appoint an administrator shall apply to the service of notice of the application and of the hearing.
(4) Both the person proposed to be appointed and the existing administrator are entitled to be served and to appear or be represented.