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,

Section 127,Avoidance of property dispositions,Ignore section 127(2).,
Section 128,Avoidance of attachment, &c.,,
Section 130,Consequences of winding-up order,Ignore section 130(4).,
Section 131,Company's statement of affairs,a Treat references to the official receiver as references to the bank liquidator. b A creditor or contributory of the bank is entitled to receive a copy of a statement under section 131 on request to the bank liquidator.,
Section 135,Provisional appointment,a Treat the reference to the presentation of a winding-up petition as a reference to the making of an application for a bank insolvency order. b Subsection (2) applies in relation to England and Wales and Scotland (and subsection (3) does not apply). c Ignore the reference to the official receiver. d Only a person who is qualified to act as an insolvency practitioner in relation to the bank and who consents to act may be appointed. e A provisional bank liquidator may not pay dividends to creditors. f The appointment of a provisional bank liquidator lapses on the appointment of a bank liquidator.,
Section 141,Liquidation Committee (England and Wales), Ignore the amendment made by paragraph 36 of Schedule 9 to the 2015 Act. The application of section 141 is subject to— sections 100, 101 and 109 of this Act, rules under section 411 (as applied by section 125 of this Act) which may, in particular, adapt section 141 to reflect (i) the fact that the bank liquidator is appointed by the court and (ii) the possibility of calling creditors' meetings under other provisions, and the omission of references to the official receiver.,
Section 142,Liquidation Committee (Scotland), Ignore the amendments made by paragraph 37 of Schedule 9 to the 2015 Act. The application of section 142 is subject to— sections 100, 101 and 109 of this Act, rules under section 411 (as applied by section 125 of this Act) which may, in particular, adapt section 142 to reflect (i) the fact that the bank liquidator is appointed by the court and (ii) the possibility of calling creditors' meetings under other provisions, and the omission of references to the official receiver.,
Section 143,General functions of liquidator,a Section 143(1) is subject to Objective 1 in section 99 above. b Ignore section 143(2).,
Section 144,Custody of property,,
Section 145,Vesting of property,,
Section 146,Duty to summon final meeting,Section 146 is not applied–but section 115 below makes similar provision.,
Section 147,Power to stay or sist proceedings,An application may be made only by— the bank liquidator, the PRA , the Bank of England, the FSCS, or a creditor or contributory (but only if the liquidation committee has passed a full payment resolution).,
Section 148,List of contributories and application of assets,By virtue of the Insolvency Rules the functions under this section are largely delegated to the liquidator–rules by virtue of section 125 may achieve a similar delegation to the bank liquidator.,
Section 149,Debts due from contributories,,
Section 150,Power to make calls,,
Section 152,Order on contributory: evidence,,
Section 153,Exclusion of creditors,,
Section 154,Adjustment of rights of contributories,,
Section 155,Inspection of books by creditors,In making or considering whether to make an order under section 155 the court shall have regard to Objective 1 in section 99 above.,
Section 156,Payment of expenses of winding up,,
Section 157,Attendance at company meetings (Scotland),,
Section 158,Power to arrest absconding contributory,,
Section 159,Powers to be cumulative,Section 159 is not applied–but subsection (5) above makes similar provision.,
Section 160,Delegation of powers to liquidator (England and Wales), Ignore the amendment made by paragraph 39 of Schedule 9 to the 2015 Act. ,
Section 161,Orders for calls on contributories (Scotland),,
Section 162,Appeals from orders (Scotland),An appeal may be brought only if the liquidation committee has passed a full payment resolution.,
Section 167 and Schedule 4,General powers of liquidator,An application to the court may not be made under section 167(3) unless the liquidation committee has passed a full payment resolution (although a creditor or contributory may apply to the court with respect to any action (or inaction) of the liquidation committee, under section 101(3) above). In exercising or considering whether to exercise a power under Schedule 4 the bank liquidator shall have regard to Objective 1 in section 99. A reference to the liquidation committee is to the liquidation committee established by section 100. The power in paragraph 4 of Schedule 4 includes the power to submit matters to arbitration. Some additional general powers are conferred by section 104 below.,
Section 168,Supplementary powers of liquidator,za Ignore the amendment made by paragraph 41 of Schedule 9 to the 2015 Act. a A direction or request under section 168(2) has no effect unless the liquidation committee has passed a full payment resolution. b Section 168(5) also applies in the case of the imposition of bank insolvency by order of the Court of Session. c An application to the court may not be made under section 168(5) unless the liquidation committee has passed a full payment resolution (except as provided in section 100 or 102 above).,
Section 169,Supplementary powers (Scotland),a . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . b Powers of the bank liquidator by virtue of section 169(2) are subject to Objective 1 in section 99 above.,
Section 170,Liquidator's duty to make returns,The liquidation committee is added to the list of persons able to apply under section 170(2).,
Section 172,Removal of liquidator,Section 172 is not applied to a bank liquidator–but section 108 makes similar provision.,
,,Section 172(1), (2) and (5) are applied to a provisional bank liquidator.,
Section 174,Release of liquidator,Section 174 is not applied–but section 115 makes similar provision.,
Section 175,Preferential debts,,
Section 176,Preferential charge on goods restrained,,
 Section 176AZA,Non-preferential debts of financial institutions,,
Section 176ZA,Expenses of winding up,,
 Section 176ZB,Application of proceeds of office-holder claims,,
Section 176A,Share of assets for unsecured creditors,,
Section 177,Appointment of special manager,,
Section 178,Power to disclaim onerous property,,
Section 179,Disclaimer of leaseholds,,
Section 180,Land subject to rentcharge,,
Section 181,Disclaimer: powers of court,,
Section 182,Leaseholds,,
Section 183,Effect of execution or attachment (England and Wales),,
Section 184,Execution of writs (England and Wales),,
Section 185,Effect of diligence (Scotland),In the application of section 24(1) and (2) of the Bankruptcy (Scotland) Act 2016 the reference to an order of the court awarding winding up is a reference to the making of the bank insolvency order.,
Section 186,Rescission of contracts by court,,
Section 187,Transfer of assets to employees,,
Section 188,Publicity,,
Section 189,Interest on debts,,
Section 190,Exemption from stamp duty,,
Section 191,Company's books as evidence,,
Section 192,Information about pending liquidations,,
Section 193,Unclaimed dividends (Scotland),,
Section 194,Resolutions passed at adjourned meetings, Section 194 applies as it applied before its repeal by paragraph 46 of Schedule 9 to the 2015 Act. ,
Section 195,Meetings to ascertain wishes of creditors or contributories,a Ignore the amendments made by paragraph 47 of Schedule 9 to the 2015 Act. b The power to have regard to the wishes of creditors and contributories is subject to Objective 1 in section 99.,
Section 196,Judicial notice of court documents,,
Section 197,Commission for receiving evidence,,
Section 198,Court order for examination of persons (Scotland),,
Section 199,Costs of application for leave to proceed (Scotland),,
Section 200,Affidavits,,
Section 206,Fraud in anticipation of winding up,,
Section 207,Transactions in fraud of creditors,,
Section 208,Misconduct in course of winding up, Ignore the amendment made by paragraph 52 of Schedule 9 to the 2015 Act. ,
Section 209,Falsification of company's books,,
Section 210,Material omissions,,
Section 211,False representations to creditors,,
Section 212,Summary remedy against directors, &c.,,
Section 213,Fraudulent trading,,
 Section 214,Wrongful trading,(a) Treat the reference in subsection (2)(b) to entering insolvent administration as a reference to entering bank administration under Part 3 of this Act at a time when the bank’s assets are insufficient for the payment of its debts and other liabilities and the expenses of the administration. (b) Ignore subsection (6A).,
Section 215,Sections 213 & 214: procedure,,
Section 216,Restriction on re-use of company names,,
Section 217,Personal liability for debts,,
Section 218,Prosecution of officers and members of company,a Ignore subsections (4) and (6). b In subsection (3), treat the second reference to the official receiver as a reference to the Secretary of State. c In subsection (5) treat the reference to subsection (4) as a reference to subsection (3).,
Section 219,Obligations under section 218,,
Section 231,Appointment of 2 or more persons,,
Section 232,Validity of acts,,
Section 233,Utilities,,
Section 234,Getting in company's property,,
Section 235,Co-operation with liquidator,Ignore references to the official receiver,
Section 236,Inquiry into company's dealings,Ignore references to the official receiver,
Section 237,Section 236: enforcement by court,,
Section 238,Transactions at undervalue (England and Wales),Anything done by the bank in connection with the exercise of a stabilisation power under Part 1 of this Act is not a transaction at an undervalue for the purposes of section 238.,
Section 239,Preferences (England and Wales),Action taken by the bank in connection with the exercise of a stabilisation power under Part 1 of this Act does not amount to giving a preference for the purpose of section 239.,
Section 240,Sections 238 & 239: relevant time,,
Section 241,Orders under sections 238 & 239,Having notice of the relevant proceedings means having notice of— an application by the Bank of England, the PRA or the Secretary of State for a bank insolvency order, or notice under section 120 below.,
Section 242,Gratuitous alienations (Scotland),Anything done by the bank in connection with the exercise of a stabilisation power under Part 1 of this Act is not a gratuitous alienation for the purpose of section 242 or any other rule of law.,
Section 243,Unfair preferences (Scotland),Action taken by the bank in connection with the exercise of a stabilisation power under Part 1 of this Act does not amount to an unfair preference for the purpose of section 243 or any other rule of law.,
Section 244,Extortionate credit transactions,,
Section 245,Avoidance of floating charges,,
Section 246,Unenforceability of liens,,
 Section 246ZD,Power to assign certain causes of action,,
Sections 386 & 387, and Schedule 6 (and Schedule 4 to the Pension Schemes Act 1993),Preferential debts,,
 Section 387A,Financial institutions and their non-preferential debts,,
Section 389,Offence of acting without being qualified,Treat references to acting as an insolvency practitioner as references to acting as a bank liquidator.,
 Sections 390 to 391T,Authorisation and regulation of insolvency practitioners,(a) In section 390 treat references to acting as an insolvency practitioner as references to acting as a bank liquidator. (b) Read subsection (2) of that section (as so modified) as if after “authorised” there were inserted “to act as an insolvency practitioner”. (c) An order under section 391 has effect in relation to any provision applied for the purposes of bank insolvency. (d) In sections 390A, 390B(1) and (3), 391O(1)(b) and 391R(3)(b), in a reference to authorisation or permission to act as an insolvency practitioner in relation to (or only in relation to) companies the reference to companies has effect without the modification in subsection (4)(h) of this section. (e) In sections 391Q(2)(b) and 391S(3)(e) the reference to a company has effect without the modification in subsection (4)(h) of this section.,
Sections 423–425,Transactions defrauding creditors,Anything done by the bank in connection with the exercise of a stabilisation power under Part 1 of this Act is not a transaction at an undervalue for the purposes of section 423.,
Sections 430 to 432and Schedule 10,Offences,,
Section 433,Statements: admissibility,For section 433(1)(a) and (b) substitute a reference to a statement prepared for the purposes of a provision of this Part.,

Section 95,Treat the reference to the PRA in subsection (1) as a reference to the FCA.,
Section 96,a Read subsection (2)(a) as “the FCA has informed the Bank of England that the FCA is satisfied that Condition 1 in section 7 is met,”. b Treat the references to the PRA in subsection (3) as references to the FCA. ba Read subsection (3)(a) as “the Bank of England—(i) has informed the FCA that it is satisfied that Condition 2 in section 7 is met, and (ii) has consented to the application, c The FCA must consult the PRA before applying for a bank insolvency order.,
Section 97,Treat the reference to the PRA in subsection (1) as a reference to the FCA.,
Section 98,Treat the references to the PRA in subsection (2) as references to the FCA.,
Section 100,a Treat the reference to two individuals in subsection (2)(a) as a reference to one individual. b Ignore subsection (2)(b). c Ignore the reference to the PRA in subsection (6)(c).,
Section 101,Ignore the reference to the PRA in subsection (7).,
Section 103,In the Table, in the entries relating to sections 147 and 241 of the Insolvency Act 1986, treat the reference to the PRA as a reference to the FCA.,
Section 108,a Treat the reference to the PRA in subsections (1) and (2) as a reference to the FCA. b Treat the reference in subsection (2) to the FCA as a reference to the Bank of England.  c . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .,
Section 109,Ignore the reference to the PRA in subsection (4).,
Section 113,Ignore subsection (2)(b)(i).,
Section 115,Ignore subsection (2)(b)(i).,
Section 117,a Treat the reference to the PRA in subsection (2) as a reference to the FCA. b Treat the reference in subsection (2) to the FCA as a reference to the Bank of England. ,
Section 120,a Treat the references to the PRA in subsections (5), (7) and (10) as references to the FCA. b Ignore the duty to inform the FCA in subsection (10)(a).,