# Banking Act 2009, Section 137: Objectives

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

(1) A bank administrator has two objectives—
(a) Objective 1: support for commercial purchaser or resolution company (see section 138), and
(b) Objective 2: “normal” administration (see section 140).
(2) Objective 1 takes priority over Objective 2 (but a bank administrator is obliged to begin working towards both objectives immediately upon appointment).

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Source: https://www.legislation.gov.uk/ukpga/2009/1/section/137 (the official version)
Page: https://openlegislation.uk/banking-act-2009/section-137
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.