112. Claim from financial institution under resolution

Where a direction has been given under section 111(1)(a), the trustee of the resolution fund must make a claim mentioned in that provision on the financial institution under resolution to pay the sum mentioned in the direction, at such time and in such manner as the trustee determines, and the sum claimed is recoverable as a debt due from the financial institution under resolution to the trustee.

Any sum recovered from the financial institution under resolution must be paid into the resolution fund.