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Banking Act 2009
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Banking Act 2009, Section 155 is up to date with all changes known to be in force on or before 18 April 2024. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations.
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Whole provisions yet to be inserted into this Act (including any effects on those provisions):
- s. 4(8A) (8B) inserted by 2012 c. 21 s. 96(3)
- s. 8(2)(d) and word inserted by 2012 c. 21 s. 96(4)(b)
155Disqualification of directorsU.K.
This section has no associated Explanatory Notes
(1)In this section “the Disqualification Act” means the Company Directors Disqualification Act 1986.
(2)In the Disqualification Act—
(a)a reference to liquidation includes a reference to bank administration,
(b)a reference to winding up includes a reference to making or being subject to a bank administration order,
(c)a reference to becoming insolvent includes a reference to becoming subject to a bank administration order, and
(d)a reference to a liquidator includes a reference to a bank administrator.
[F1(3)For the purposes of the application of section 7A of the Disqualification Act (office-holder’s report on conduct of directors) to a bank which is subject to a bank administration order—
(a)the “office-holder” is the bank administrator;
(b)the “insolvency date” means the date on which the bank administration order is made; and
(c)subsections (9) to (11) are omitted.]
(4)After section 21A of the Disqualification Act (bank insolvency–inserted by section 121 above) insert—
“21BBank administration
Section 155 of the Banking Act 2009 provides for this Act to apply in relation to bank administration as it applies in relation to liquidation.”
Textual Amendments
F1S. 155(3) substituted (7.4.2017) by The Deregulation Act 2015, the Small Business, Enterprise and Employment Act 2015 and the Insolvency (Amendment) Act (Northern Ireland) 2016 (Consequential Amendments and Transitional Provisions) Regulations 2017 (S.I. 2017/400), regs. 1(2), 5(11)
Commencement Information
I1S. 155 in force at 21.2.2009 by S.I. 2009/296, art. 3, Sch. para. 3
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