Part 1

Special Resolution Regime
Chapter 3

Special resolution action

Treasury

Resolution company: report
80
1
Where the Bank of England transfers all or part of a bank's business to a resolution company, the Bank must report to the Chancellor of the Exchequer about the activities of the resolution company.
2
The first report must be made as soon as is reasonably practicable after the end of one year beginning with the date of the first transfer to the resolution company.
3
A report must be made as soon as is reasonably practicable after the end of each subsequent year.
4
The Chancellor of the Exchequer must lay a copy of each report under subsection (2) or (3) before Parliament.
5
The Bank must comply with any request of the Treasury for a report dealing with specified matters in relation to a resolution company.
6
A request under subsection (5) may include provision about—
a
the content of the report;
b
timing.
S. 80 in force at 21.2.2009 by S.I. 2009/296, art. 3, Sch. para. 1
Pt. 1 restricted (7.1.2010) by Banking Act 2009 (Exclusion of Insurers) Order 2010 (S.I. 2010/35), arts. 1, 2
Pt. 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. 2
Words in s. 80 substituted (1.1.2015) by The Bank Recovery and Resolution Order 2014 (S.I. 2014/3329), arts. 1(2), 87(1)
Words in s. 80 heading substituted (1.1.2015) by The Bank Recovery and Resolution Order 2014 (S.I. 2014/3329), arts. 1(2), 87(2)
Pt. 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), 7