Part 2Bank Insolvency
Tenure of bank liquidator
112Replacement
(1)
Where a bank liquidator vacates office the Bank of England must as soon as is reasonably practicable appoint a replacement bank liquidator.
(2)
But where a bank liquidator is removed by resolution of a meeting of creditors under section 109—
(a)
a replacement may be appointed by resolution of the meeting, and
(b)
failing that, subsection (1) above applies.