Banking Act 2009 (c. 1)

Part 2 U.K. Bank Insolvency

Modifications etc. (not altering text)

C1 Pt. 2 applied (with modifications) by 1986 c. 53, s. 90C (as inserted (29.3.2009) by Building Societies (Insolvency and Special Administration) Order 2009 (S.I. 2009/805), art. 2)

C2 Pt. 2 modified (29.3.2009) by Building Societies (Insolvency and Special Administration) Order 2009 (S.I. 2009/805), Sch. 1 para. 1

C3 Pt. 2 modified (29.3.2009) by Building Societies (Insolvency and Special Administration) Order 2009 (S.I. 2009/805), Sch. 1 para. 6

C4 Pt. 2 restricted (7.1.2010) by Banking Act 2009 (Exclusion of Insurers) Order 2010 (S.I. 2010/35), arts. 1, 2

C5 Pt. 2: amendment to earlier affecting provision SI 2009/805, Sch. 1 (7.4.2010) by Building Societies (Insolvency and Special Administration) (Amendment) Order 2010 (S.I. 2010/1189), arts. 1(2), 2

C6 Pt. 2 applied (with modifications) (8.2.2011) by The Investment Bank Special Administration Regulations 2011 (S.I. 2011/245), reg. 1, Sch. 1 paras. 6, 7

Other processes U.K.

117 Bank insolvency as alternative order U.K.

(1) On a petition for a winding up order or an application for an administration order in respect of a bank the court may, instead, make a bank insolvency order.

(2) A bank insolvency order may be made under subsection (1) only—

(a) on the application of the [F1 PRA] made with the consent of the Bank of England [F2 and the FCA], or

(b) on the application of the Bank of England.

Textual Amendments

F1 Word in s. 117(2)(a) substituted (1.4.2013) by Financial Services Act 2012 (c. 21), s. 122(3), Sch. 17 para. 43(a) (with Sch. 20); S.I. 2013/423, art. 3, Sch.

F2 Words in s. 117(2)(a) inserted (1.4.2013) by Financial Services Act 2012 (c. 21), s. 122(3), Sch. 17 para. 43(b) (with Sch. 20); S.I. 2013/423, art. 3, Sch.

Commencement Information

I1 S. 117 in force at 21.2.2009 by S.I. 2009/296, art. 3, Sch. para. 2