Section 119

The following paragraphs of Schedule B1 to the Insolvency Act 1986 (administration) apply to a bank insolvency order as to an administration order. Those paragraphs are— paragraph 40 (dismissal of pending winding-up petition), and paragraph 42 (moratorium on insolvency proceedings). For that purpose— a reference to an administration order is a reference to a bank insolvency order, a reference to a company being in administration is a reference to a bank being in bank insolvency, and a reference to an administrator is a reference to a bank liquidator.

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