Part 1Special Resolution Regime
Chapter 3 Special resolution action
F1Resolution administrator
62D.Resolution administrator: supplementary
(1)
A resolution administrator may do anything necessary or desirable for the purposes of or in connection with the performance of the functions of the office.
(2)
A resolution administrator is not a servant or agent of the Crown (and, in particular, is not a civil servant).
(3)
Where a resolution administrator is appointed under this Part, the Bank of England—
(a)
must make provision in the appointment instrument or a Part 1 instrument for the resignation and replacement of the resolution administrator;
(b)
may remove the resolution administrator from office only (i) on the ground of incapacity or misconduct, or (ii) on the ground that there is no further need for a person to perform the functions conferred on the resolution administrator.