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Changes over time for: Section 8
Llinell Amser Newidiadau
This timeline shows the different points in time where a change occurred. The dates will coincide with the earliest date on which the change (e.g an insertion, a repeal or a substitution) that was applied came into force. The first date in the timeline will usually be the earliest date when the provision came into force. In some cases the first date is 01/02/1991 (or for Northern Ireland legislation 01/01/2006). This date is our basedate. No versions before this date are available. For further information see the Editorial Practice Guide and Glossary under Help.
Status:
Point in time view as at 01/01/2015.
Changes to legislation:
There are currently no known outstanding effects for the The Banking Act 2009 (Mandatory Compensation Arrangements Following Bail-in) Regulations 2014, Section 8.
Changes to Legislation
Revised legislation carried on this site may not be fully up to date. At the current time any known changes or effects made by subsequent legislation have been applied to the text of the legislation you are viewing by the editorial team. Please see ‘Frequently Asked Questions’ for details regarding the timescales for which new effects are identified and recorded on this site.
Mandatory provisions: valuation principlesU.K.
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adran has no associated
Memorandwm Esboniadol
8.—(1) A relevant compensation order must include the following provisions (subject to any necessary modifications).
(2) In making the assessment of the insolvency treatment as required under regulation 6(2), the independent valuer must determine the amount of compensation in accordance with the following principles (in addition to the principle which applies by virtue of section 57(3) of the Act)—
(a)that the relevant banking institution would have entered insolvency immediately before the coming into effect of the initial instrument;
(b)that the initial instrument would not have been made and that no other instrument, or order, under Part 1 of the Act would have been made in relation to or in connection with the relevant banking institution;
(c)that no financial assistance would have been provided by the Bank or the Treasury after the date on which the initial instrument came into effect if that instrument had not been made.
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