Section 120(5)

Condition 1 is that the the PRA and the Bank of England have been notified— by the applicant for an administration order, that the application has been made, by the petitioner for a winding up order, that the petition has been presented, by the bank, that a resolution for voluntary winding up may be made, or by the person proposing to appoint an administrator, of the proposed appointment.

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