Explanatory Notes

Banking Act 2009

2009 CHAPTER 1

12 February 2009

Commentary on Sections

Part 1: Special Resolution Regime.

Compensation

Section 51: Transfer to temporary public ownership

139.This section requires, on the exercise by the Treasury of the temporary public ownership stabilisation option, the Treasury to make either make a resolution fund order (which may include a compensation scheme order) or a compensation scheme order. In either case, the order may include a third party compensation order.