C1C2Part 1Special Resolution Regime
Annotations:
Modifications etc. (not altering text)
C2
Pt. 1: power to amend conferred (1.3.2014) by Financial Services (Banking Reform) Act 2013 (c. 33), ss. 17(3)(f), 148(5); S.I. 2014/377, art. 2(1)(b), Sch. Pt. 2
F2Chapter 3 Special resolution action
Annotations:
Amendments (Textual)
F2
Pt. 1 Ch. 3 formed from ss. 4-83 (1.1.2015) by The Bank Recovery and Resolution Order 2014 (S.I. 2014/3329), arts. 1(2), 7
The stabilisation options
I2I113Temporary public ownership
1
The F1fifth 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.
Pt. 1 restricted (7.1.2010) by Banking Act 2009 (Exclusion of Insurers) Order 2010 (S.I. 2010/35), arts. 1, 2