http://www.legislation.gov.uk/ukpga/2009/1/section/62BBanking Act 2009An Act to make provision about banking.texttext/xmlenStatute Law Database2026-02-20Expert Participation2026-01-19 Banking Act 2009s. 4(8A) (8B)Financial Services Act 2012s. 96(3)Sch. 20s. 122(3)Banking Act 2009s. 8(2)(d) and wordFinancial Services Act 2012s. 96(4)(b)Sch. 20s. 122(3) Part 1Chapter 3 62B1The Bank of England may appoint an individual or body corporate as a resolution administrator.2The power under subsection (1) may be exercised—aby a separate instrument of appointment under this section, orbby way of provision in a mandatory reduction instrument, a share transfer instrument, a property transfer instrument or a resolution instrument.3In this section and sections 62C to 62E—“appointment instrument” means an instrument under subsection (2)(a);“Part 1 instrument” means an instrument of a kind mentioned in subsection (2)(b).4A resolution administrator is appointed—ato hold any securities that may be transferred or issued to that person in the capacity of resolution administrator, andbto perform any other functions that may be conferred under any provision of this Part.5The Bank of England may appoint more than one resolution administrator to perform functions in relation to a bank (but no more than one of them may at any one time be authorised to hold securities as mentioned in subsection (4)(a)).6Securities held by a resolution administrator (in that capacity, and whether as a result of a Part 1 instrument or otherwise) are to be held in accordance with the terms of a Part 1 instrument that transfers those, or other, securities to the resolution administrator.7For example, the following provision may be made by virtue of subsection (6)—aprovision that specified rights of a resolution administrator with respect to all or any of the securities are to be exercisable only as directed by the Bank of England;bprovision specifying rights or obligations that the resolution administrator is, or is not, to have in relation to some or all of the securities.8A resolution administrator must—ain accordance with the Part 1 instrument or the appointment instrument, take all measures necessary to promote the special resolution objectives, andbhave regard, in performing any functions of the office, to any other objectives that may be specified in a Part 1 instrument or the appointment instrument.9Where one or more objectives are specified in accordance with subsection (8), the objectives are to be taken to have equal status with each other, unless the contrary is stated in the Part 1 instrument or the appointment instrument.10The following provisions apply in relation to an appointment instrument as they apply in relation to a resolution instrument—asection 48S(2) and (3) (power to make incidental, consequential provision etc);bsection 48T (procedure).Pt. 1 restricted (7.1.2010) by Banking Act 2009 (Exclusion of Insurers) Order 2010 (S.I. 2010/35), arts. 1, 2Pt. 1: power to amend conferred (1.3.2014) by Financial Services (Banking Reform) Act 2013 (c. 33), ss. 17(3)(f), 148(5); S.I. 2014/377, art. 2(1)(b), Sch. Pt. 2Ss. 62B-62E and cross-heading inserted (1.1.2015) by The Bank Recovery and Resolution Order 2014 (S.I. 2014/3329), arts. 1(2), 70Pt. 1 Ch. 3 formed from ss. 4-83 (1.1.2015) by The Bank Recovery and Resolution Order 2014 (S.I. 2014/3329), arts. 1(2), 7