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8.—(1) Section 135 of the Insolvency Act is applied with the following modifications where an application is made for a special administration (bank insolvency) order—
(a)in subsection (1), the reference to the presentation of a winding up petition is to an application for a special administration (bank insolvency) order;
(b)in subsection (2)—
(i)the reference to England and Wales includes Scotland,
(ii)the reference to a winding up order is to a special administration order,
(iii)“other fit person” means a person qualified to act as an insolvency practitioner and who consents to act, and
(iv)ignore the reference to the official receiver; and
(c)subsection (3) is not applied.
(2) A person appointed under section 135 (as applied by this paragraph)—
(a)must not pay dividends to creditors;
(b)may only be removed by order of the court; and
(c)shall vacate office if they cease to be qualified to act as a insolvency practitioner.
(3) The appointment of the person appointed under section 135 (as applied by this paragraph) lapses on the appointment of an administrator under a special administration (bank insolvency) order.
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