Section 112 ReplacementI1

(1)

Where a bank liquidator vacates office the Bank of England must as soon as is reasonably practicable appoint a replacement bank liquidator.

(2)

But where a bank liquidator is removed by resolution of a meeting of creditors under section 109—

(a)

a replacement may be appointed by resolution of the meeting, and

(b)

failing that, subsection (1) above applies.

Annotations