Summary and Overview of the Structure Part 3: Bank administration
10.This Part establishes a new bank administration procedure for use where there has been a partial transfer of business from a failing bank. A bank administrator may be appointed by the court to administer the affairs of an insolvent residual bank created where part of a bank has been transferred to a private sector purchaser or to a bridge bank under the SRR. There are also powers to extend the procedure to building societies or credit unions.