97. Grounds for making

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Banking Act 2009 (c. 1)
Part 2 Bank Insolvency (ss. 90-135)
Bank insolvency order (ss. 94-98)
97. Grounds for making

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Version status: In force | Document consolidation status: Updated to reflect all known changes

Version date: 1 April 2013 - onwards

Version 4 of 4

(1) The court may make a bank insolvency order on the application of the Bank of England or the PRA if satisfied -

(a) that the bank has eligible depositors, and

(b) that Ground A or C of section 96 applies.

(2) The court may make a bank insolvency order on the application of the Secretary of State if satisfied -

(a) that the bank has eligible depositors, and

(b) that Grounds B and C of section 96 apply.

(3) On an application for a bank insolvency order the court may -

(a) grant the application in accordance with subsection (1) or (2),

(b) adjourn the application (generally or to a specified date), or

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