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

Tenure of bank liquidator U.K.

108 Removal by court U.K.

(1) A bank liquidator may be removed by order of the court on the application of—

(a) the liquidation committee,

(b) the FSA, or

(c) the Bank of England.

(2) Before making an application the FSA must consult the Bank of England.

(3) Before making an application the Bank of England must consult the FSA.

(4) A bank liquidator removed by order has release with effect from a time determined by—

(a) the Secretary of State, or

(b) in the case of a bank liquidator in Scotland, the Accountant of Court.

Commencement Information

I1 S. 108 in force at 21.2.2009 by S.I. 2009/296, art. 3, Sch. para. 2