Section 117

On a petition for a winding up order or an application for an administration order in respect of a bank the court may, instead, make a bank insolvency order. A bank insolvency order may be made under subsection (1) only— on the application of the PRA made with the consent of ... the FCA, or on the application of the Bank of England.

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Source: legislation.gov.uk · retrieved 2026-09-04