Search Legislation

The Banking Act 2009 (Mandatory Compensation Arrangements Following Bail-in) Regulations 2014

 Help about what version

What Version

 Help about advanced features

Advanced Features

 Help about opening options

Opening OptionsExpand opening options

Changes over time for: Section 8

 Help about opening options

Alternative versions:

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Point in time view as at 01/01/2015.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. Help about Changes to Legislation

Mandatory provisions: valuation principlesU.K.

This section has no associated Explanatory Memorandum

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.

Back to top

Options/Help