SCHEDULES

SCHEDULE 2Bail-in stabilisation option

PART 1Amendments of Banking Act 2009

Other amendments of the Act

I112

1

Section 1 (overview) is amended as follows.

2

In subsection (2)(a), for “three” substitute “ four ”.

3

For subsection (3) substitute—

3

The four “stabilisation options” are—

a

transfer to a private sector purchaser (section 11),

b

transfer to a bridge bank (section 12),

c

the bail-in option (section 12A), and

d

transfer to temporary public ownership (section 13).

4

In subsection (4)—

a

for “three” substitute “ four ”;

b

before paragraph (a) insert—

za

the resolution instrument powers (sections 12A(2) and 48U to 48W),

c

in paragraph (b), after “33” insert “ , 41A ”.