http://www.legislation.gov.uk/ukpga/2009/1/section/48HBanking Act 2009An Act to make provision about banking.texttext/xmlenStatute Law Database2026-02-20Expert Participation2026-01-19 Banking Act 2009s. 4(8A) (8B)Financial Services Act 2012s. 96(3)Sch. 20s. 122(3)Banking Act 2009s. 8(2)(d) and wordFinancial Services Act 2012s. 96(4)(b)Sch. 20s. 122(3) Part 1Chapter 3 48H1A resolution instrument may require a resolution administrator, or one or more directors of the bank, to—adraw up a business reorganisation plan with respect to the bank, ...bsubmit it to the Bank of England within the period allowed by (or under) the instrument ; andcsubmit to the Bank of England progress reports on the implementation of the plan at such intervals as the instrument may require.2“Business reorganisation plan” means a plan that includes—aan assessment of the factors that caused Condition 1 in section 7 to be met in the case of the bank,ba description of the measures to be adopted with a view to restoring the viability of the bank, andca timetable for the implementation of those measures.3Where a person has submitted a business reorganisation plan to the Bank of England under subsection (1) (or has re-submitted a plan under subsection (4)), the Bank of England—amust approve the plan if satisfied that the plan is appropriately designed for meeting the objective mentioned in subsection (2)(b);bmust otherwise require the person to amend the plan in a specified manner.4Where the Bank of England has required a person to amend a business re-organisation plan, the person must re-submit the amended plan within the period allowed by (or under) the resolution instrument.5Before deciding what action to take under subsection (3) the Bank of England must (for each submission or re-submission of a plan) consult—athe PRA, andbthe FCA.6A business reorganisation plan may include recommendations by the person submitting the plan as to the exercise by the Bank of England of any of its powers under this Part in relation to the bank.7Where a resolution instrument contains provision under subsection (1), the instrument may—aspecify further matters (in addition to those mentioned in subsection (2)) that must be dealt with in the business reorganisation plan;bmake provision about the timing of actions to be taken in connection with the making and approval of the plan;cenable any provision that the Bank of England has power under paragraph (a) or (b) to make in the instrument to be made instead in an agreement between the Bank of England and the person required to draw up the business reorganisation plan.7AThe Bank of England may make technical standards which—arequire progress reports mentioned in subsection (1)(c) to include such matters as are specified in the technical standards; orbotherwise relate to the content of those progress reports, so far as dealing with matters so specified.8For the purposes of subsection (2)(b) the viability of a bank is to be assessed by reference to whether the bank satisfies, and (if so) for how long it may be expected to continue to satisfy, the threshold conditions (as defined in section 55B of the Financial Services and Markets Act 2000).Pt. 1 restricted (7.1.2010) by Banking Act 2009 (Exclusion of Insurers) Order 2010 (S.I. 2010/35), arts. 1, 2Pt. 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. 2Ss. 48B-48W and cross-heading inserted (1.3.2014 for the insertion of s. 48P for specified purposes, 31.12.2014 in so far as not already in force) by Financial Services (Banking Reform) Act 2013 (c. 33), s. 148(5), Sch. 2 para. 4; S.I. 2014/377, art. 2(1)(b), Sch. Pt. 2; S.I. 2014/3160, art. 2(1)(b)Words in s. 48H(1) substituted (1.1.2015) by The Bank Recovery and Resolution Order 2014 (S.I. 2014/3329), arts. 1(2), 51Pt. 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), 7Word in s. 48H(1) omitted (31.12.2020) by virtue of The Bank Recovery and Resolution and Miscellaneous Provisions (Amendment) (EU Exit) Regulations 2018 (S.I. 2018/1394), reg. 1(2), Sch. 1 para. 22(2)(a); 2020 c. 1, Sch. 5 para. 1(1)S. 48H(1)(c) and word inserted (31.12.2020) by The Bank Recovery and Resolution and Miscellaneous Provisions (Amendment) (EU Exit) Regulations 2018 (S.I. 2018/1394), reg. 1(2), Sch. 1 para. 22(2)(b); 2020 c. 1, Sch. 5 para. 1(1)S. 48H(7A) inserted (31.12.2020) by The Bank Recovery and Resolution and Miscellaneous Provisions (Amendment) (EU Exit) Regulations 2018 (S.I. 2018/1394), reg. 1(2), Sch. 1 para. 22(3); 2020 c. 1, Sch. 5 para. 1(1)