Banking Act 2009

69 Continuity obligations: consideration and terms

(1) The Treasury may by order specify matters which are to be or not to be considered in determining—

(a) what amounts to reasonable consideration for the purpose of sections 63 to 68;

(b) what provisions to include in accordance with section 64(3)(b) or 67(3)(b).

(2) An order—

(a) shall be made by statutory instrument, and

(b) shall be subject to annulment in pursuance of a resolution of either House of Parliament.

(3) A continuity authority may give guarantees or indemnities in respect of consideration for services or facilities provided or to be provided in pursuance of a continuity obligation.

(4) In this section “continuity authority”—

(a) in relation to sections 63 and 64, means the Bank of England, and

(b) in relation to sections 65 to 68, has the same meaning as in those sections.