80ATransfer for bail-in purposes: report

1

This section applies where the Bank of England makes one or more resolution instruments under section 12A(2) in respect of a bank.

2

The Bank of England must, on request by the Treasury, report to the Chancellor of the Exchequer about—

a

the exercise of the power to make a resolution instrument under section 12A(2),

b

the activities of the bank, and

c

any other matters in relation to the bank that the Treasury may specify.

3

In relation to the matters in subsection (2)(a) and (b), the report must comply with any requirements that the Treasury may specify.

4

The Chancellor of the Exchequer must lay a copy of each report under subsection (2) before Parliament.