Commentary Part 6 – Special Administration for Operators of Certain Infrastructure Systems Section 116: Application for an FMI administration order
270.Section 116 provides (1) that a FMI administration order can only be made upon the application of the Bank of England, (2) that when making the application, the Bank of England must nominate the FMI administrator and (3) that the infrastructure company must give notice of the application in accordance with rules that made for the purpose of FMI administration.