http://www.legislation.gov.uk/ukpga/2009/1/section/89IBanking 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)Banking Act 2009s. 89I(9A)The Bank Recovery and Resolution (Amendment) (EU Exit) Regulations 2020 (revoked)reg. 76(4)reg. 1(2)Banking Act 2009s. 89I(9A)The Bank Recovery and Resolution (Amendment) (EU Exit) Regulations 2020 (revoked)reg. 76(4)reg. 1(2) Part 1Chapter 689I1This section applies where an instrument under section 89H recognises any third-country resolution action (or a part of it).2The third-country resolution action (or part) produces the same legal effects in any part of the United Kingdom as it would have produced had it been made (with due authority) under the law of that part of the United Kingdom.3For the purposes of supporting, or giving full effect to, the third-county resolution action (or the part), the Bank of England may exercise, in relation to a third-country institution, a third-country parent undertaking or another third-country group company, one or more of the stabilisation options, or one or more of the stabilisation powers, available to the Bank in relation to a similar entity in the United Kingdom.4But, for the purposes of exercising a power by virtue of subsection (3), provision which could otherwise be made under this Part in a mandatory reduction instrument, share transfer instrument, property transfer instrument or resolution instrument may instead be made in—athe instrument made under section 89H recognising the third-country resolution action (or part), orba further instrument made by the Bank of England under this section.An instrument under paragraph (b) is a “third-country instrument” (as is an instrument under section 89H(2)(a), (b) or (c)).5This Part (other than this section) applies in relation to the exercise of any power by virtue of subsection (3), subject to subsections (6) to (9A) and any other necessary modifications.6Section 4 (special resolution objectives) has effect as if after subsection (9) there were inserted—9AObjective 8 is to support third-country resolution action with a view to promoting objectives which, in relation to the country or territory concerned, correspond to Objectives 1 to 7 in relation to the United Kingdom..7Sections 7 to 8ZA do not apply.8Section 60B (principle of no less favourable treatment) applies in relation to compensation arrangements in the case of third-country instruments in relation to any third-country resolution action (or a part of it) as if—areferences to the initial instrument were to the first third-country instrument under section 89H recognising that action (or part), andbin subsection (3) the reference to the coming into effect of the initial instrument were a reference to the taking of the third-country resolution action recognised (or recognised in part) by that instrument.9Section 81B, 81ZBA and 81BA have effect in relation to the exercise of a stabilisation power in respect of a third-country group company as if for subsections (2) and (3) (in each case) there were substituted—2Condition 1 is that third-country resolution action has been taken in respect of a third-country institution, a third-country parent undertaking or another third-country group company, in the same group.3Condition 2 is that the Bank of England is satisfied that the exercise of the power in respect of the third-country group company is necessary, having regard to the public interest in the stability of the financial systems of the United Kingdom and the country or territory concerned.3AIn subsections (2) and (3) “third-country resolution action”, “third-country institution”, “third-country parent undertaking”, and “third-country group company” have the meaning given by section 89H(7)..9ASections 81ZZBA, 81ZZBB, 81ZBB, 81ZBC, 81BB and 81BC do not apply.10Section 89H(7) applies for the purposes of this section.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. 2Pt. 1 Ch. 6, 7 inserted (1.1.2015) by The Bank Recovery and Resolution Order 2014 (S.I. 2014/3329), arts. 1(2), 103Word in s. 89I(5) substituted (28.12.2020) by The Bank Recovery and Resolution (Amendment) (EU Exit) Regulations 2020 (S.I. 2020/1350), regs. 1(2), 23(a)S. 89I(9A) inserted (28.12.2020) by The Bank Recovery and Resolution (Amendment) (EU Exit) Regulations 2020 (S.I. 2020/1350), regs. 1(2), 23(b)Words in s. 89I(6) substituted (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. 42(2); 2020 c. 1, Sch. 5 para. 1(1)Words in s. 89I(9) substituted (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. 42(3)(a); 2020 c. 1, Sch. 5 para. 1(1)Words in s. 89I(9) substituted (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. 42(3)(b); 2020 c. 1, Sch. 5 para. 1(1)