SCHEDULE 1Amendments of the Banking Act 2009

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1

Section 48H (business reorganisation plans) is amended as follows.

2

In subsection (1)—

a

omit the “and” after paragraph (a);

b

after paragraph (b) insert—

; and

c

submit to the Bank of England progress reports on the implementation of the plan at such intervals as the instrument may require.

3

After subsection (7) insert—

7A

The Bank of England may make technical standards which—

a

require progress reports mentioned in subsection (1)(c) to include such matters as are specified in the technical standards; or

b

otherwise relate to the content of those progress reports, so far as dealing with matters so specified.