Yn ddilys o 21/02/2009
76International obligation notice: generalU.K.
(1)The Bank of England may not exercise a stabilisation power in respect of a bank if the Treasury notify the Bank that the exercise would be likely to contravene an international obligation of the United Kingdom.
(2)A notice under subsection (1)—
(a)must be in writing, and
(b)may be withdrawn (generally, partially or conditionally).
(3)If the Treasury give a notice under subsection (1) the Bank of England must consider other exercises of the stabilisation powers with a view to—
(a)pursuing the special resolution objectives, and
(b)avoiding the objections on which the Treasury's notice was based.
(4)The Treasury may by notice to the Bank of England disapply subsection (3) in respect of a bank; and a notice may be revoked by further notice.