Section 120(8A)

Condition 5— applies only if a resolution instrument has been made under section 12A with respect to the bank in the 3 months ending with the date on which the PRA receives the notification under Condition 1, and is that the Bank of England has informed the person who gave the notice that it consents to the insolvency procedure to which the notice relates going ahead.

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