Overview of Part 1
This section has no associated Explanatory Memorandum
4.—(1) Section 1 (overview)(1) is amended as follows.
(2) In subsection (2)(a) for “four” substitute “five”.
(3) In subsection (3)—
(a)for “four” substitute “five”, and
(b)after paragraph (b) insert—
“(ba)transfer to an asset management vehicle (section 12ZA),”.
(4) In subsection (4)—
(a)for “four” substitute “five”,
(b)after paragraph (b) insert—
“(c)the third country instrument powers (sections 89H to 89J).”.
(5) In the Table in subsection (6), at the appropriate places insert—
| “Sections 3A and 3B | Pre-resolution powers” |
| “Sections 6A to 6D | Mandatory write-down, conversion etc of capital instruments” |
| “Section 6E | Valuation before mandatory write-down or stabilisation action” |
| “Sections 48B to 48W | Bail-in option” |
| “Sections 48X and 48Y | Replacement of provisional valuation” |
| “Section 48Z | Termination rights etc” |
| “Section 62A | Independent valuer” |
| “Sections 62B to 62E | Resolution administrator” |
| “Sections 83ZA to 83Z2 | Information and enforcement” |
| “Sections 89H to 89J | Third-country resolution actions” |
(1)
Section 1 was amended by paragraph 12 of Schedule 2 to the Financial Services (Banking Reform) Act 2013 (c.33), there are other amending instruments but none are relevant.