Section 143

The Bank of England may apply for a bank administration order in respect of a bank if the following conditions are met. Condition 1 is that the Bank of England has made or intends to make a property transfer instrument in respect of the bank in accordance with section 11(2) , 12(2) or 12ZA(3). Condition 2 is that the Bank of England is satisfied that the residual bank— is unable to pay its debts, or is likely to become unable to pay its debts as a result of the property transfer instrument which the Bank intends to make.

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