Commentary on Sections Process Section 143: Grounds for applying
334.Only the Bank of England, as the authority responsible for administering the SRR, will be able to apply to the court for a bank administration order.
335.An application may be made only where a partial transfer has been effected by virtue of subsection (3),  where the residual banking company is left as an insolvent entity; that is, it is unable, or is likely to become unable, to pay its debts.
336.By the application of paragraphs 44(1)(a) and 44(5) of Schedule B1 to the Insolvency Act 1986 in section 145, as in an ordinary administration, on the making of the application an interim moratorium will take effect so that creditors will not be able to enforce their security over the residual company’s property and no legal proceedings may be taken against the company (except with the leave of the court).