PART 17 U.K.Modified application of company law to banks etc in resolution

Modified application of the Companies Act 2006 (disapplication of other [F1 requirements]) U.K.

220.—F2 (1) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

F2 (2) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

F2 (3) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(4) F3 ... The Companies Act 2006 applies with the modifications set out in Schedule 4 F3 ....

(5) F4 ... The Companies Act 2006 (Commencement No. 8, Transitional Provisions and Savings) Order 2008 M1 applies as if in Schedule 2 (transitional provisions and savings) after paragraph 43 (power of directors to allot shares etc: private company with only one class of shares (s. 550)) there were inserted—

“43A.   Paragraph 43 does not apply in relation to an existing company or a transitional company which is a company under resolution for the purposes of Part 17 of the Bank Recovery and Resolution (No. 2) Order 2014.”.

F5 (6) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F1 Word in art. 220 heading substituted (31.12.2020) by The Bank Recovery and Resolution and Miscellaneous Provisions (Amendment) (EU Exit) Regulations 2018 (S.I. 2018/1394), reg. 1(2), Sch. 3 para. 111(2); 2020 c. 1, Sch. 5 para. 1(1)

F2 Art. 220(1)-(3) omitted (31.12.2020) by virtue of The Bank Recovery and Resolution and Miscellaneous Provisions (Amendment) (EU Exit) Regulations 2018 (S.I. 2018/1394), reg. 1(2), Sch. 3 para. 111(3); 2020 c. 1, Sch. 5 para. 1(1)

F3 Words in art. 220(4) omitted (31.12.2020) by virtue of The Bank Recovery and Resolution and Miscellaneous Provisions (Amendment) (EU Exit) Regulations 2018 (S.I. 2018/1394), reg. 1(2), Sch. 3 para. 111(4); 2020 c. 1, Sch. 5 para. 1(1)

F4 Words in art. 220(5) omitted (31.12.2020) by virtue of The Bank Recovery and Resolution and Miscellaneous Provisions (Amendment) (EU Exit) Regulations 2018 (S.I. 2018/1394), reg. 1(2), Sch. 3 para. 111(5); 2020 c. 1, Sch. 5 para. 1(1)

F5 Art. 220(6) omitted (31.12.2020) by virtue of The Bank Recovery and Resolution and Miscellaneous Provisions (Amendment) (EU Exit) Regulations 2018 (S.I. 2018/1394), reg. 1(2), Sch. 3 para. 111(6); 2020 c. 1, Sch. 5 para. 1(1)

Marginal Citations

M1 S.I. 2008/2860. There are amendments, but none is relevant.