Section 157(2)

In subsection (1)— “residual bank” means a bank all or part of whose business has been transferred to a commercial purchaser in accordance with section 11 or to a resolution company in accordance with section 12 or 12ZA, and “insolvency power” means— section 359 of the Financial Services and Markets Act 2000 (application for administration order), and section 367 of that Act (winding-up petition).

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