http://www.legislation.gov.uk/ukpga/2009/1/section/89KBanking 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 1Special Resolution RegimeChapter 7<Addition ChangeId="key-d24a5b6f42961d432f0670ae6dc83586-1582896642453" CommentaryRef="key-d24a5b6f42961d432f0670ae6dc83586">General provisions</Addition><Addition ChangeId="key-d24a5b6f42961d432f0670ae6dc83586-1582896642453" CommentaryRef="key-d24a5b6f42961d432f0670ae6dc83586">Insolvency Proceedings</Addition>89K1If —aa stabilisation power has been exercised in respect of a relevant firm, orbthe conditions in section 7 are met in relation to a relevant firm,insolvency proceedings may not be commenced in relation to that firm except by, or with the consent of, the Bank of England.2For the purposes of subsection (1), the commencement of insolvency proceedings means—amaking an application for an administration order;bpresenting a petition for winding up;cproposing a resolution for voluntary winding up;dappointing an administrator.3In this section—a“relevant firm” means—ia bank, building society, investment firm, financial holding company, mixed financial holding company or a mixed activity holding company, oriia financial institution which is a subsidiary undertaking of an entity within sub-paragraph (i);b“building society” has the meaning given in the Building Societies Act 1986;c“financial holding company” has the meaning given in Article 4.1(2) of the capital requirements regulation;d“financial institution” has the meaning given in Article 4.1(26) of the capital requirements regulation;e“mixed activity holding company” has the meaning given in Article 4.1(22) of the capital requirements regulation;f“mixed financial holding company” has the meaning given in Article 4.1(21) of the capital requirements regulation. 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. 2Pt. 1 Ch. 6, 7 inserted (1.1.2015) by The Bank Recovery and Resolution Order 2014 (S.I. 2014/3329), arts. 1(2), 103Words in s. 89K(3)(f) substituted (31.12.2020) by The Bank Recovery and Resolution and Miscellaneous Provisions (Amendment) (EU Exit) Regulations 2018 (S.I. 2018/1394), reg. 1(2), Sch. 1 para. 50; 2020 c. 1, Sch. 5 para. 1(1)