Part 2Bank Insolvency
Bank insolvency order
97Grounds for making
(1)
The court may make a bank insolvency order on the application of the Bank of England or the F1PRA if satisfied—
(a)
that the bank has eligible depositors, and
(b)
that Ground A or C of section 96 applies.
(2)
The court may make a bank insolvency order on the application of the Secretary of State if satisfied—
(a)
that the bank has eligible depositors, and
(b)
that Grounds B and C of section 96 apply.
(3)
On an application for a bank insolvency order the court may—
(a)
grant the application in accordance with subsection (1) or (2),
(b)
adjourn the application (generally or to a specified date), or
(c)
dismiss the application.