PART 5Other Provision made under the European Communities Act 1972
CHAPTER 1Suspension of obligations, interests and rights
Suspension prior to exercise of stabilisation powers: procedure86
1
The following sections of the Act apply in relation to an instrument under regulation 83, 84 or 85 as they apply to a resolution instrument—
a
section 48O;
b
section 48Q;
c
section 48R;
d
section 48S; and
e
section 48T.
2
Where the Bank of England makes one or more instruments under regulation 83, 84 or 85 in respect of a bank, the Bank must, on request by the Treasury, report to the Chancellor of the Exchequer about—
a
the exercise of the power to make an instrument;
b
the activities of the bank; and
c
any other matters in relation to the bank that the Treasury may specify.
3
In relation to the matters in paragraphs (2)(a) and (b), the report must comply with any requirements that the Treasury may specify.
4
The Chancellor of the Exchequer must lay a copy of each report under subsection (2) before Parliament.