Banking Act 2009 (c. 1)

Part 1 U.K. Special Resolution Regime

Treasury U.K.

79 Public funds: bridge bank U.K.

(1) This section applies where the Bank of England has transferred all or part of a bank's business to a bridge bank.

(2) The Bank of England may not take action in respect of the bridge bank without the Treasury's consent if the action would be likely to have implications for public funds.

(3) Section 78(2) and (3) have effect for the purposes of this section.

Commencement Information

I1 S. 79 in force at 21.2.2009 by S.I. 2009/296, art. 3, Sch. para. 1