Part 1Special Resolution Regime
Chapter 3 Special resolution action
Treasury
77International obligation notice: F1resolution company
(1)
This section applies where the Bank of England has transferred all or part of a bank's business to a F2resolution company.
(2)
The Bank of England must comply with any notice of the Treasury requiring the Bank, for the purpose of ensuring compliance by the United Kingdom with its international obligations—
(a)
to take specified action under this Part in respect of the F2resolution company, or
(b)
not to take specified action under this Part in respect of the F2resolution company.
(3)
A notice under subsection (1)—
(a)
must be in writing, and
(b)
may be withdrawn (generally, partially or conditionally).
(4)
A notice may include requirements about timing.