79Public funds: [F1resolution company] U.K.
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(1)This section applies where the Bank of England has transferred all or part of a bank's business to a [F2resolution company].
(2)The Bank of England may not take action in respect of the [F2resolution company] 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.
Textual Amendments
F1Words in s. 79 heading substituted (1.1.2015) by The Bank Recovery and Resolution Order 2014 (S.I. 2014/3329), arts. 1(2), 86(2)
F2Words in s. 79 substituted (1.1.2015) by The Bank Recovery and Resolution Order 2014 (S.I. 2014/3329), arts. 1(2), 86(1)
Commencement Information
I1S. 79 in force at 21.2.2009 by S.I. 2009/296, art. 3, Sch. para. 1