C1C2Part 1Special Resolution Regime

Annotations:
Modifications etc. (not altering text)

F1Bail-in option

Annotations:
Amendments (Textual)
F1

Ss. 48B-48W and cross-heading inserted (1.3.2014 for the insertion of s. 48P for specified purposes) by Financial Services (Banking Reform) Act 2013 (c. 33), s. 148(5), Sch. 2 para. 4; S.I. 2014/377, art. 2(1)(b), Sch. Pt. 2

48FPower to amend definition of “excluded liabilities”

1

The Treasury may by order amend section 48B(8) by—

a

adding to the list of excluded liabilities;

b

amending or omitting any paragraph of that subsection, other than paragraphs (a) to (c).

2

The Treasury may by order amend section 48C or 48D.

3

The powers conferred by subsections (1) and (2) include power to make consequential and transitional provision.

4

An order under this section—

a

is to be made by statutory instrument, and

b

may not be made unless a draft has been laid before and approved by resolution of each House of Parliament.

5

The Treasury must consult before laying a draft order under this section before Parliament.