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The Banking Act 2009 (Parts 2 and 3 Consequential Amendments) Order 2009

Consolidated Text As Enacted Cited authorities 101 Cited in Amendments 69 Related
Vincent
JurisdictionUK Non-devolved
CitationSI 2009/317
  • This Order may be cited as the Banking Act 2009 (Parts 2 and 3 Consequential Amendments) Order 2009 and comes into force on 21st February 2009.
  • In this Order—
    • (1) So far as the enactments set out in the Schedule (“the listed enactments”) apply in relation to liquidation and administration, they apply with the modifications set out in paragraphs (2) to (4) .“liquidator” include a reference to a bank liquidator under Part 2 of the 2009 Act;“provisional liquidator” include a reference to a provisional bank liquidator under Part 2 of the 2009 Act;“liquidation” or “insolvent liquidation” include a reference to bank insolvency under Part 2 of the 2009 Act;“winding up” or “winding up by the court” include a reference to bank insolvency under Part 2 of the 2009 Act (and a reference to the “commencement of winding up” in this context is to the commencement of bank insolvency) ;“winding up order” include a reference to a bank insolvency order under Part 2 of the 2009 Act;“wound up” include a reference to a bank having been put into bank insolvency under Part 2 of the 2009 Act; and“winding up petition” or “petition to wind up” include an application for bank insolvency under Part 2 of the 2009 Act.“administrator” include a reference to a bank administrator under Part 3 of the 2009 Act;“administration” or “insolvent administration” include a reference to a bank administration under Part 3 of the 2009 Act;“administration order” include a reference to a bank administration order under Part 3 of the 2009 Act; and“provisional liquidator” include a reference to a provisional bank administrator under Part 3 of the 2009 Act.“insolvency legislation” or “the law of insolvency” include Parts 2 and 3 of the 2009 Act and the provisions of the Insolvency Act 1986 a person acting as an “insolvency practitioner” (as defined in section 388 of the Insolvency Act 1986) include a person acting as a bank liquidator or bank administrator under Parts 2 and 3 of the 2009 Act;the provisions of the Insolvency Act 1986 and the Insolvency (Northern Ireland) Order 1989, in the context of bank insolvency or bank administration, shall be read to include those provisions as applied and modified by sections 103 and 145 of the 2009 Act; andthe provisions of the Insolvency Rules 1986 (1) The following provision of the Finance (No 2) Act 1992 (2) Paragraph 2 of Schedule 12 (Banks etc. in Compulsory Liquidation) is to be read as if it included the following—
    • (3A) Where the company is a bank (as defined in section 91 of the Banking Act 2009) , bank insolvency proceedings shall be taken to have commenced against the bank when the application for a bank insolvency order is made to the court under section 95 of the Banking Act 2009.
    .    Where the company is a bank (as defined in section 91 of the Banking Act 2009) , bank insolvency proceedings shall be taken to have commenced against the bank when the application for a bank insolvency order is made to the court under section 95 of the Banking Act 2009.(1) The following provisions of the Financial Services and Markets Act 2000

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