Modifications etc. (not altering text)
C1Pt. 1 restricted (7.1.2010) by Banking Act 2009 (Exclusion of Insurers) Order 2010 (S.I. 2010/35), arts. 1, 2
C2Pt. 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. 2
Textual Amendments
F1Pt. 1 Ch. 3 formed from ss. 4-83 (1.1.2015) by The Bank Recovery and Resolution Order 2014 (S.I. 2014/3329), arts. 1(2), 7
(1)This section applies where the Bank of England has transferred all or part of a bank's business to a [F3resolution company].
(2)The Bank of England must comply with any notice of the Treasury requiring the Bank, for the purpose of ensuring compliance by the United Kingdom with its international obligations—
(a)to take specified action under this Part in respect of the [F3resolution company], or
(b)not to take specified action under this Part in respect of the [F3resolution company].
(3)A notice under subsection (1)—
(a)must be in writing, and
(b)may be withdrawn (generally, partially or conditionally).
(4)A notice may include requirements about timing.
Textual Amendments
F2Words in s. 77 heading substituted (1.1.2015) by The Bank Recovery and Resolution Order 2014 (S.I. 2014/3329), arts. 1(2), 83(2)
F3Words in s. 77 substituted (1.1.2015) by The Bank Recovery and Resolution Order 2014 (S.I. 2014/3329), arts. 1(2), 83(1)
Commencement Information
I1S. 77 in force at 21.2.2009 by S.I. 2009/296, art. 3, Sch. para. 1