Banking Act 2009 (c. 1)

Part 1 U.K. Special Resolution Regime

The stabilisation options U.K.

13 Temporary public ownership U.K.

(1) The third stabilisation option is to take the bank into temporary public ownership.

(2) For that purpose the Treasury may make one or more share transfer orders in which the transferee is—

(a) a nominee of the Treasury, or

(b) a company wholly owned by the Treasury.

(3) The code of practice under section 5 must include provision about the management of banks taken into temporary public ownership under this section.

Commencement Information

I1 S. 13 in force at 17.2.2009 for specified purposes by S.I. 2009/296, arts. 2, 3, Sch. para. 1

I2 S. 13 in force at 21.2.2009 in so far as not already in force by S.I. 2009/296, arts. 2, 3, Sch. para. 1