Part 2Bank Insolvency
Other processes
119Exclusion of other procedures
(1)
The following paragraphs of Schedule B1 to the Insolvency Act 1986 (administration) apply to a bank insolvency order as to an administration order.
(2)
Those paragraphs are—
(a)
paragraph 40 (dismissal of pending winding-up petition), and
(b)
paragraph 42 (moratorium on insolvency proceedings).
(3)
For that purpose—
(a)
a reference to an administration order is a reference to a bank insolvency order,
(b)
a reference to a company being in administration is a reference to a bank being in bank insolvency, and
(c)
a reference to an administrator is a reference to a bank liquidator.