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Financial Services (Banking Reform) Act 2013

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Financial Services (Banking Reform) Act 2013, Paragraph 12 is up to date with all changes known to be in force on or before 17 November 2024. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations. Help about Changes to Legislation

This section has no associated Explanatory Notes

12(1)Section 1 (overview) is amended as follows.U.K.

(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 ”.

Commencement Information

I1Sch. 2 para. 12 in force at 31.12.2014 by S.I. 2014/3160, art. 2(1)(b)

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