Part 1Special Resolution Regime

F1Chapter 4Information, investigation and enforcement

Enforcement of relevant requirements

83ZV.Procedure: general

(1)

Sections 389, 390 and 392 to 394 of the Financial Services and Markets Act 2000 apply in relation to a warning notice given under section 83ZT, a decision notice given under section 83ZU and the Bank as they apply in relation to a warning notice or decision notice given under that Act and the regulator which gave that notice, subject to subsections (2) to (4).

(2)

Section 389 of that Act has effect as if subsection (2) were omitted,

(3)

Section 390 of that Act has effect as if—

(a)

in subsection (2A), in paragraph (a), for “133(6)(b)” there were substituted “133(5)(b)”,

(b)

in that paragraph, for “133(6)” there were substituted “133(5)”,

(c)

for subsection (4) there were substituted—

“(4)

A final notice about a direction under section 83ZR(1)(c) or (3)(c) of the Banking Act 2009 or a prohibition under section 83ZR(1)(d) of that Act must—

(a)

specify the conduct to which the direction relates or the extent of the prohibition, and

(b)

give details of the date on which the direction or prohibition has effect.”.

(4)

Section 392 has effect as if for paragraphs (a) and (b) there were substituted—

“(a)

warning notice given under section 83ZT(1) of the Banking Act 2009;

(b)

a decision notice given under section 83ZU(1) of the Banking Act 2009.”.