# The Investment Bank Special Administration Regulations 2011, Regulation 6: Grounds for applying


(1) In this regulation—
(a) Ground A is that the investment bank is, or is likely to become, unable to pay its debts;
(b) Ground B is that it would be fair to put the investment bank into special administration; and
(c) Ground C is that it is expedient in the public interest to put the investment bank into special administration.
(2) The FSA or the persons listed in regulation 5(1)(a) to (e) may apply for a special administration order only if they consider that Ground A or Ground B is met.
(3) The Secretary of State may apply for a special administration order only if it appears to the Secretary of State that Grounds B and C are met.
(4) The sources of information on the basis of which the Secretary of State may reach a decision on Ground C include those listed in section 124A(1) of the Insolvency Act (petition for winding up on grounds of public interest).

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Source: https://www.legislation.gov.uk/ukdsi/2011/9780111505588/regulation/6 (the official version)
Page: https://openlegislation.uk/draft-investment-bank-special-administration-regulations-2011/regulation-6
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.