# Banking Act 2009, Section 117: Bank insolvency as alternative order

Extent: E+W+S+N.I.

(1) On a petition for a winding up order or an application for an administration order in respect of a bank the court may, instead, make a bank insolvency order.
(2) A bank insolvency order may be made under subsection (1) only—
(a) on the application of the PRA made with the consent of ... the FCA, or
(b) on the application of the Bank of England.

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Source: https://www.legislation.gov.uk/ukpga/2009/1/section/117 (the official version)
Page: https://openlegislation.uk/banking-act-2009/section-117
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.