103 General powers, duties and effect
Banking Act 2009 (2009 c 1) | Legislation

103  General powers, duties and effect

(1)     A bank liquidator may do anything necessary or expedient for the pursuit of the Objectives in section 99.

(2)     The following provisions of this section provide for—

(a)     general powers and duties of bank liquidators (by application of provisions about liquidators), and

(b)     the general process and effects of bank insolvency (by application of provisions about winding up).

(3)     The provisions set out in the Table apply in relation to bank insolvency as in relation to winding up, with—

(a)     the modifications set out in subsection (4),

(b)     any other modification specified in the Table, and

(c)     any other necessary modification.

(4)     The modifications are that—

(a)     a reference to the liquidator is a reference to the bank liquidator,

(b)     a reference to winding up is a reference to bank insolvency,

(c)     a reference to winding up by the court is a reference to the imposition of bank insolvency by order of the court,

(d)     a reference to being wound up under Part IV or V of the Insolvency Act 1986 is a reference to being made the subject of a bank insolvency order,

(e)     a reference to the commencement

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