Point in time view as at 21/02/2008.
There are outstanding changes not yet made by the legislation.gov.uk editorial team to Banking (Special Provisions) Act 2008. Any changes that have already been made by the team appear in the content and are referenced with annotations.
Changes and effects yet to be applied by the editorial team are only applicable when viewing the latest version or prospective version of legislation. They are therefore not accessible when viewing legislation as at a specific point in time. To view the ‘Changes to Legislation’ information for this provision return to the latest version view using the options provided in the ‘What Version’ box above.
(1)There is to be paid out of money provided by Parliament—
(a)any expenditure incurred by the Treasury in connection with the provision of financial assistance to any authorised UK deposit-taker in relation to which an order is made under section 3 or 6;
(b)any expenditure incurred by the Treasury in connection with the provision of financial assistance to any person to whom any transfer is made under this Act;
(c)any expenditure incurred by the Treasury in connection with the giving of any relevant indemnity or the putting in place of relevant guarantee arrangements in relation to any particular authorised UK deposit-taker; and
(d)any other expenditure incurred by the Treasury by virtue of this Act.
(2)In subsection (1)(c) “relevant indemnity” means any indemnity given to—
(a)directors of any authorised UK deposit-taker in relation to which an order is made under section 3 or 6,
(b)directors of any body to which any transfer is made under this Act,
(c)directors of any body which is a group undertaking of any body to which any transfer is made under this Act,
(d)the Bank of England in respect of, or in connection with, any financial assistance provided by it to any body within any of paragraphs (a) to (c), or
(e)any person appointed by the Treasury as an independent valuer for the purposes of any order made under this Act.
(3)It is immaterial whether the indemnity or arrangements mentioned in subsection (1) are given or put in place before or after the passing of this Act.
Point in Time: This becomes available after navigating to view revised legislation as it stood at a certain point in time via Advanced Features > Show Timeline of Changes or via a point in time advanced search.
Geographical Extent: Indicates the geographical area that this provision applies to. For further information see ‘Frequently Asked Questions’.
Show Timeline of Changes: See how this legislation has or could change over time. Turning this feature on will show extra navigation options to go to these specific points in time. Return to the latest available version by using the controls above in the What Version box.
This timeline shows the different points in time where a change occurred. The dates will coincide with the earliest date on which the change (e.g an insertion, a repeal or a substitution) that was applied came into force. The first date in the timeline will usually be the earliest date when the provision came into force. In some cases the first date is 01/02/1991 (or for Northern Ireland legislation 01/01/2006). This date is our basedate. No versions before this date are available. For further information see the Editorial Practice Guide and Glossary under Help.
Click 'View More' or select 'More Resources' tab for additional information including: