{
  "url": "https://openlegislation.uk/banking-act-2009/section-143",
  "json_url": "https://openlegislation.uk/banking-act-2009/section-143.json",
  "legislation": "ukpga/2009/1",
  "legislation_title": "Banking Act 2009",
  "legislation_url": "https://openlegislation.uk/banking-act-2009",
  "path": "section/143",
  "kind": "section",
  "number": "143",
  "heading": "Grounds for applying",
  "text": "(1) The Bank of England may apply for a bank administration order in respect of a bank if the following conditions are met.\n(2) Condition 1 is that the Bank of England has made or intends to make a property transfer instrument in respect of the bank in accordance with section 11(2) , 12(2) or 12ZA(3).\n(3) Condition 2 is that the Bank of England is satisfied that the residual bank—\n(a) is unable to pay its debts, or\n(b) is likely to become unable to pay its debts as a result of the property transfer instrument which the Bank intends to make.",
  "extent": "E+W+S+N.I.",
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "F",
      "label": "F1",
      "text": "Words in s. 143(2) substituted (16.12.2016) by The Bank Recovery and Resolution Order 2016 (S.I. 2016/1239), arts. 1(2), 26(7)"
    },
    {
      "type": "I",
      "label": "I1",
      "text": "S. 143 in force at 21.2.2009 by S.I. 2009/296, art. 3, Sch. para. 3"
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukpga/2009/1/section/143",
    "retrieved_at": "2026-10-29T09:11:28.246347+00:00",
    "licence": "OGL-UK-3.0",
    "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
    "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
  }
}