http://www.legislation.gov.uk/ukpga/2009/1/section/48H/2020-12-31Banking Act 2009An Act to make provision about banking.texttext/xmlenStatute Law Database2024-05-18Expert Participation2020-12-31 Part 1Special Resolution RegimeChapter 3 <Addition ChangeId="key-66128f0e1311ca44b09df6cb3e25b25a-1582893808011" CommentaryRef="key-66128f0e1311ca44b09df6cb3e25b25a"> Special resolution action</Addition> <Emphasis><Addition ChangeId="key-e08285c6098396b69338da688e9dbcc0-1579794794815" CommentaryRef="key-e08285c6098396b69338da688e9dbcc0">Bail-in option</Addition></Emphasis><Addition ChangeId="key-e08285c6098396b69338da688e9dbcc0-1579794794815" CommentaryRef="key-e08285c6098396b69338da688e9dbcc0">Business reorganisation plans</Addition>48H1A resolution instrument may require a resolution administrator, or one or more directors of the bank, to—adraw up a business reorganisation plan with respect to the bank, ...bsubmit it to the Bank of England within the period allowed by (or under) the instrument ; andcsubmit to the Bank of England progress reports on the implementation of the plan at such intervals as the instrument may require.2Business reorganisation plan” means a plan that includes—aan assessment of the factors that caused Condition 1 in section 7 to be met in the case of the bank,ba description of the measures to be adopted with a view to restoring the viability of the bank, andca timetable for the implementation of those measures.3Where a person has submitted a business reorganisation plan to the Bank of England under subsection (1) (or has re-submitted a plan under subsection (4)), the Bank of England—amust approve the plan if satisfied that the plan is appropriately designed for meeting the objective mentioned in subsection (2)(b);bmust otherwise require the person to amend the plan in a specified manner.4Where the Bank of England has required a person to amend a business re-organisation plan, the person must re-submit the amended plan within the period allowed by (or under) the resolution instrument.5Before deciding what action to take under subsection (3) the Bank of England must (for each submission or re-submission of a plan) consult—athe PRA, andbthe FCA.6A business reorganisation plan may include recommendations by the person submitting the plan as to the exercise by the Bank of England of any of its powers under this Part in relation to the bank.7Where a resolution instrument contains provision under subsection (1), the instrument may—aspecify further matters (in addition to those mentioned in subsection (2)) that must be dealt with in the business reorganisation plan;bmake provision about the timing of actions to be taken in connection with the making and approval of the plan;cenable any provision that the Bank of England has power under paragraph (a) or (b) to make in the instrument to be made instead in an agreement between the Bank of England and the person required to draw up the business reorganisation plan.7AThe Bank of England may make technical standards which—arequire progress reports mentioned in subsection (1)(c) to include such matters as are specified in the technical standards; orbotherwise relate to the content of those progress reports, so far as dealing with matters so specified.8For the purposes of subsection (2)(b) the viability of a bank is to be assessed by reference to whether the bank satisfies, and (if so) for how long it may be expected to continue to satisfy, the threshold conditions (as defined in section 55B of the Financial Services and Markets Act 2000).Words in s. 48H(1) substituted (1.1.2015) by The Bank Recovery and Resolution Order 2014 (S.I. 2014/3329), arts. 1(2), 51Pt. 1 restricted (7.1.2010) by Banking Act 2009 (Exclusion of Insurers) Order 2010 (S.I. 2010/35), arts. 1, 2Word in s. 48H(1) 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. 1 para. 22(2)(a); 2020 c. 1, Sch. 5 para. 1(1)Pt. 1 Ch. 3 formed from ss. 4-83 (1.1.2015) by The Bank Recovery and Resolution Order 2014 (S.I. 2014/3329), arts. 1(2), 7S. 48H(1)(c) and word inserted (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. 1 para. 22(2)(b); 2020 c. 1, Sch. 5 para. 1(1)Ss. 48B-48W and cross-heading inserted (1.3.2014 for the insertion of s. 48P for specified purposes, 31.12.2014 in so far as not already in force) 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; S.I. 2014/3160, art. 2(1)(b)S. 48H(7A) inserted (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. 1 para. 22(3); 2020 c. 1, Sch. 5 para. 1(1)Pt. 1: power to amend conferred (1.3.2014) by Financial Services (Banking Reform) Act 2013 (c. 33), ss. 17(3)(f), 148(5); S.I. 2014/377, art. 2(1)(b), Sch. Pt. 2
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<Addition ChangeId="key-e08285c6098396b69338da688e9dbcc0-1579794794815" CommentaryRef="key-e08285c6098396b69338da688e9dbcc0">A resolution instrument may require a </Addition>
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<Substitution ChangeId="key-0e7ec7586a82aba83fa92387e8aae33c-1582807694365" CommentaryRef="key-0e7ec7586a82aba83fa92387e8aae33c">resolution administrator</Substitution>
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<Addition ChangeId="key-e08285c6098396b69338da688e9dbcc0-1579794794815" CommentaryRef="key-e08285c6098396b69338da688e9dbcc0">, or one or more directors of the bank, to—</Addition>
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...
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<Addition ChangeId="key-e08285c6098396b69338da688e9dbcc0-1579794794815" CommentaryRef="key-e08285c6098396b69338da688e9dbcc0">submit it to the Bank of England within the period allowed by (or under) the instrument </Addition>
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<Addition ChangeId="key-cdfdd770c14edcbf7a1a7a7e17cec1b6-1627484653108" CommentaryRef="key-cdfdd770c14edcbf7a1a7a7e17cec1b6">submit to the Bank of England progress reports on the implementation of the plan at such intervals as the instrument may require.</Addition>
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</P2>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/48H/2/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/48H/2" id="section-48H-2">
<Pnumber>
<Addition ChangeId="key-e08285c6098396b69338da688e9dbcc0-1579794794815" CommentaryRef="key-e08285c6098396b69338da688e9dbcc0">2</Addition>
</Pnumber>
<P2para>
<Text>
<Addition ChangeId="key-e08285c6098396b69338da688e9dbcc0-1579794794815" CommentaryRef="key-e08285c6098396b69338da688e9dbcc0"></Addition>
<Term>
<Addition ChangeId="key-e08285c6098396b69338da688e9dbcc0-1579794794815" CommentaryRef="key-e08285c6098396b69338da688e9dbcc0">Business reorganisation plan</Addition>
</Term>
<Addition ChangeId="key-e08285c6098396b69338da688e9dbcc0-1579794794815" CommentaryRef="key-e08285c6098396b69338da688e9dbcc0">” means a plan that includes—</Addition>
</Text>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/48H/2/a/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/48H/2/a" id="section-48H-2-a">
<Pnumber>
<Addition ChangeId="key-e08285c6098396b69338da688e9dbcc0-1579794794815" CommentaryRef="key-e08285c6098396b69338da688e9dbcc0">a</Addition>
</Pnumber>
<P3para>
<Text>
<Addition ChangeId="key-e08285c6098396b69338da688e9dbcc0-1579794794815" CommentaryRef="key-e08285c6098396b69338da688e9dbcc0">an assessment of the factors that caused Condition 1 in section 7 to be met in the case of the bank,</Addition>
</Text>
</P3para>
</P3>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/48H/2/b/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/48H/2/b" id="section-48H-2-b">
<Pnumber>
<Addition ChangeId="key-e08285c6098396b69338da688e9dbcc0-1579794794815" CommentaryRef="key-e08285c6098396b69338da688e9dbcc0">b</Addition>
</Pnumber>
<P3para>
<Text>
<Addition ChangeId="key-e08285c6098396b69338da688e9dbcc0-1579794794815" CommentaryRef="key-e08285c6098396b69338da688e9dbcc0">a description of the measures to be adopted with a view to restoring the viability of the bank, and</Addition>
</Text>
</P3para>
</P3>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/48H/2/c/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/48H/2/c" id="section-48H-2-c">
<Pnumber>
<Addition ChangeId="key-e08285c6098396b69338da688e9dbcc0-1579794794815" CommentaryRef="key-e08285c6098396b69338da688e9dbcc0">c</Addition>
</Pnumber>
<P3para>
<Text>
<Addition ChangeId="key-e08285c6098396b69338da688e9dbcc0-1579794794815" CommentaryRef="key-e08285c6098396b69338da688e9dbcc0">a timetable for the implementation of those measures.</Addition>
</Text>
</P3para>
</P3>
</P2para>
</P2>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/48H/3/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/48H/3" id="section-48H-3">
<Pnumber>
<Addition ChangeId="key-e08285c6098396b69338da688e9dbcc0-1579794794815" CommentaryRef="key-e08285c6098396b69338da688e9dbcc0">3</Addition>
</Pnumber>
<P2para>
<Text>
<Addition ChangeId="key-e08285c6098396b69338da688e9dbcc0-1579794794815" CommentaryRef="key-e08285c6098396b69338da688e9dbcc0">Where a person has submitted a business reorganisation plan to the Bank of England under subsection (1) (or has re-submitted a plan under subsection (4)), the Bank of England—</Addition>
</Text>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/48H/3/a/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/48H/3/a" id="section-48H-3-a">
<Pnumber>
<Addition ChangeId="key-e08285c6098396b69338da688e9dbcc0-1579794794815" CommentaryRef="key-e08285c6098396b69338da688e9dbcc0">a</Addition>
</Pnumber>
<P3para>
<Text>
<Addition ChangeId="key-e08285c6098396b69338da688e9dbcc0-1579794794815" CommentaryRef="key-e08285c6098396b69338da688e9dbcc0">must approve the plan if satisfied that the plan is appropriately designed for meeting the objective mentioned in subsection (2)(b);</Addition>
</Text>
</P3para>
</P3>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/48H/3/b/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/48H/3/b" id="section-48H-3-b">
<Pnumber>
<Addition ChangeId="key-e08285c6098396b69338da688e9dbcc0-1579794794815" CommentaryRef="key-e08285c6098396b69338da688e9dbcc0">b</Addition>
</Pnumber>
<P3para>
<Text>
<Addition ChangeId="key-e08285c6098396b69338da688e9dbcc0-1579794794815" CommentaryRef="key-e08285c6098396b69338da688e9dbcc0">must otherwise require the person to amend the plan in a specified manner.</Addition>
</Text>
</P3para>
</P3>
</P2para>
</P2>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/48H/4/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/48H/4" id="section-48H-4">
<Pnumber>
<Addition ChangeId="key-e08285c6098396b69338da688e9dbcc0-1579794794815" CommentaryRef="key-e08285c6098396b69338da688e9dbcc0">4</Addition>
</Pnumber>
<P2para>
<Text>
<Addition ChangeId="key-e08285c6098396b69338da688e9dbcc0-1579794794815" CommentaryRef="key-e08285c6098396b69338da688e9dbcc0">Where the Bank of England has required a person to amend a business re-organisation plan, the person must re-submit the amended plan within the period allowed by (or under) the resolution instrument.</Addition>
</Text>
</P2para>
</P2>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/48H/5/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/48H/5" id="section-48H-5">
<Pnumber>
<Addition ChangeId="key-e08285c6098396b69338da688e9dbcc0-1579794794815" CommentaryRef="key-e08285c6098396b69338da688e9dbcc0">5</Addition>
</Pnumber>
<P2para>
<Text>
<Addition ChangeId="key-e08285c6098396b69338da688e9dbcc0-1579794794815" CommentaryRef="key-e08285c6098396b69338da688e9dbcc0">Before deciding what action to take under subsection (3) the Bank of England must (for each submission or re-submission of a plan) consult—</Addition>
</Text>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/48H/5/a/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/48H/5/a" id="section-48H-5-a">
<Pnumber>
<Addition ChangeId="key-e08285c6098396b69338da688e9dbcc0-1579794794815" CommentaryRef="key-e08285c6098396b69338da688e9dbcc0">a</Addition>
</Pnumber>
<P3para>
<Text>
<Addition ChangeId="key-e08285c6098396b69338da688e9dbcc0-1579794794815" CommentaryRef="key-e08285c6098396b69338da688e9dbcc0">the PRA, and</Addition>
</Text>
</P3para>
</P3>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/48H/5/b/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/48H/5/b" id="section-48H-5-b">
<Pnumber>
<Addition ChangeId="key-e08285c6098396b69338da688e9dbcc0-1579794794815" CommentaryRef="key-e08285c6098396b69338da688e9dbcc0">b</Addition>
</Pnumber>
<P3para>
<Text>
<Addition ChangeId="key-e08285c6098396b69338da688e9dbcc0-1579794794815" CommentaryRef="key-e08285c6098396b69338da688e9dbcc0">the FCA.</Addition>
</Text>
</P3para>
</P3>
</P2para>
</P2>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/48H/6/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/48H/6" id="section-48H-6">
<Pnumber>
<Addition ChangeId="key-e08285c6098396b69338da688e9dbcc0-1579794794815" CommentaryRef="key-e08285c6098396b69338da688e9dbcc0">6</Addition>
</Pnumber>
<P2para>
<Text>
<Addition ChangeId="key-e08285c6098396b69338da688e9dbcc0-1579794794815" CommentaryRef="key-e08285c6098396b69338da688e9dbcc0">A business reorganisation plan may include recommendations by the person submitting the plan as to the exercise by the Bank of England of any of its powers under this Part in relation to the bank.</Addition>
</Text>
</P2para>
</P2>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/48H/7/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/48H/7" id="section-48H-7">
<Pnumber>
<Addition ChangeId="key-e08285c6098396b69338da688e9dbcc0-1579794794815" CommentaryRef="key-e08285c6098396b69338da688e9dbcc0">7</Addition>
</Pnumber>
<P2para>
<Text>
<Addition ChangeId="key-e08285c6098396b69338da688e9dbcc0-1579794794815" CommentaryRef="key-e08285c6098396b69338da688e9dbcc0">Where a resolution instrument contains provision under subsection (1), the instrument may—</Addition>
</Text>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/48H/7/a/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/48H/7/a" id="section-48H-7-a">
<Pnumber>
<Addition ChangeId="key-e08285c6098396b69338da688e9dbcc0-1579794794815" CommentaryRef="key-e08285c6098396b69338da688e9dbcc0">a</Addition>
</Pnumber>
<P3para>
<Text>
<Addition ChangeId="key-e08285c6098396b69338da688e9dbcc0-1579794794815" CommentaryRef="key-e08285c6098396b69338da688e9dbcc0">specify further matters (in addition to those mentioned in subsection (2)) that must be dealt with in the business reorganisation plan;</Addition>
</Text>
</P3para>
</P3>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/48H/7/b/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/48H/7/b" id="section-48H-7-b">
<Pnumber>
<Addition ChangeId="key-e08285c6098396b69338da688e9dbcc0-1579794794815" CommentaryRef="key-e08285c6098396b69338da688e9dbcc0">b</Addition>
</Pnumber>
<P3para>
<Text>
<Addition ChangeId="key-e08285c6098396b69338da688e9dbcc0-1579794794815" CommentaryRef="key-e08285c6098396b69338da688e9dbcc0">make provision about the timing of actions to be taken in connection with the making and approval of the plan;</Addition>
</Text>
</P3para>
</P3>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/48H/7/c/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/48H/7/c" id="section-48H-7-c">
<Pnumber>
<Addition ChangeId="key-e08285c6098396b69338da688e9dbcc0-1579794794815" CommentaryRef="key-e08285c6098396b69338da688e9dbcc0">c</Addition>
</Pnumber>
<P3para>
<Text>
<Addition ChangeId="key-e08285c6098396b69338da688e9dbcc0-1579794794815" CommentaryRef="key-e08285c6098396b69338da688e9dbcc0">enable any provision that the Bank of England has power under paragraph (a) or (b) to make in the instrument to be made instead in an agreement between the Bank of England and the person required to draw up the business reorganisation plan.</Addition>
</Text>
</P3para>
</P3>
</P2para>
</P2>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/48H/7A/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/48H/7A" id="section-48H-7A">
<Pnumber>
<Addition ChangeId="key-e08285c6098396b69338da688e9dbcc0-1579794794815" CommentaryRef="key-e08285c6098396b69338da688e9dbcc0">
<Addition ChangeId="key-e2bd943843d5ff615842e686d3015149-1627484704196" CommentaryRef="key-e2bd943843d5ff615842e686d3015149">7A</Addition>
</Addition>
</Pnumber>
<P2para>
<Text>
<Addition ChangeId="key-e08285c6098396b69338da688e9dbcc0-1579794794815" CommentaryRef="key-e08285c6098396b69338da688e9dbcc0">
<Addition ChangeId="key-e2bd943843d5ff615842e686d3015149-1627484704196" CommentaryRef="key-e2bd943843d5ff615842e686d3015149">The Bank of England may make technical standards which—</Addition>
</Addition>
</Text>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/48H/7A/a/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/48H/7A/a" id="section-48H-7A-a">
<Pnumber>
<Addition ChangeId="key-e08285c6098396b69338da688e9dbcc0-1579794794815" CommentaryRef="key-e08285c6098396b69338da688e9dbcc0">
<Addition ChangeId="key-e2bd943843d5ff615842e686d3015149-1627484704196" CommentaryRef="key-e2bd943843d5ff615842e686d3015149">a</Addition>
</Addition>
</Pnumber>
<P3para>
<Text>
<Addition ChangeId="key-e08285c6098396b69338da688e9dbcc0-1579794794815" CommentaryRef="key-e08285c6098396b69338da688e9dbcc0">
<Addition ChangeId="key-e2bd943843d5ff615842e686d3015149-1627484704196" CommentaryRef="key-e2bd943843d5ff615842e686d3015149">require progress reports mentioned in subsection (1)(c) to include such matters as are specified in the technical standards; or</Addition>
</Addition>
</Text>
</P3para>
</P3>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/48H/7A/b/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/48H/7A/b" id="section-48H-7A-b">
<Pnumber>
<Addition ChangeId="key-e08285c6098396b69338da688e9dbcc0-1579794794815" CommentaryRef="key-e08285c6098396b69338da688e9dbcc0">
<Addition ChangeId="key-e2bd943843d5ff615842e686d3015149-1627484704196" CommentaryRef="key-e2bd943843d5ff615842e686d3015149">b</Addition>
</Addition>
</Pnumber>
<P3para>
<Text>
<Addition ChangeId="key-e08285c6098396b69338da688e9dbcc0-1579794794815" CommentaryRef="key-e08285c6098396b69338da688e9dbcc0">
<Addition ChangeId="key-e2bd943843d5ff615842e686d3015149-1627484704196" CommentaryRef="key-e2bd943843d5ff615842e686d3015149">otherwise relate to the content of those progress reports, so far as dealing with matters so specified.</Addition>
</Addition>
</Text>
</P3para>
</P3>
</P2para>
</P2>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/2009/1/section/48H/8/2020-12-31" IdURI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/48H/8" id="section-48H-8">
<Pnumber>
<Addition ChangeId="key-e08285c6098396b69338da688e9dbcc0-1579794794815" CommentaryRef="key-e08285c6098396b69338da688e9dbcc0">8</Addition>
</Pnumber>
<P2para>
<Text>
<Addition ChangeId="key-e08285c6098396b69338da688e9dbcc0-1579794794815" CommentaryRef="key-e08285c6098396b69338da688e9dbcc0">For the purposes of subsection (2)(b) the viability of a bank is to be assessed by reference to whether the bank satisfies, and (if so) for how long it may be expected to continue to satisfy, the threshold conditions (as defined in section 55B of the Financial Services and Markets Act 2000).</Addition>
</Text>
</P2para>
</P2>
</P1para>
</P1>
</P1group>
</Pblock>
</Chapter>
</Part>
</Body>
</Primary>
<Commentaries>
<Commentary id="key-0e7ec7586a82aba83fa92387e8aae33c" Type="F">
<Para>
<Text>
Words in s. 48H(1) substituted (1.1.2015) by
<Citation URI="http://www.legislation.gov.uk/id/uksi/2014/3329" id="coqzw6sx3-00007" Class="UnitedKingdomStatutoryInstrument" Year="2014" Number="3329" Title="The Bank Recovery and Resolution Order 2014">The Bank Recovery and Resolution Order 2014 (S.I. 2014/3329)</Citation>
,
<CitationSubRef id="coqzw6sx3-00008" CitationRef="coqzw6sx3-00007" URI="http://www.legislation.gov.uk/id/uksi/2014/3329/article/1/2" SectionRef="article-1-2">arts. 1(2)</CitationSubRef>
,
<CitationSubRef id="coqzw6sx3-00009" CitationRef="coqzw6sx3-00007" URI="http://www.legislation.gov.uk/id/uksi/2014/3329/article/51" SectionRef="article-51" Operative="true">51</CitationSubRef>
</Text>
</Para>
</Commentary>
<Commentary id="key-3f368772f125ea1ae21ac6cfd6f06119" Type="C">
<Para>
<Text>
Pt. 1 restricted (7.1.2010) by
<Citation URI="http://www.legislation.gov.uk/id/uksi/2010/35" id="c5nlkqlf2-00007" Class="UnitedKingdomStatutoryInstrument" Year="2010" Number="35" Title="Banking Act 2009 (Exclusion of Insurers) Order 2010">Banking Act 2009 (Exclusion of Insurers) Order 2010 (S.I. 2010/35)</Citation>
,
<CitationSubRef id="c5nlkqlf2-00008" CitationRef="c5nlkqlf2-00007" URI="http://www.legislation.gov.uk/id/uksi/2010/35/article/1" SectionRef="article-1">arts. 1</CitationSubRef>
,
<CitationSubRef id="c5nlkqlf2-00009" CitationRef="c5nlkqlf2-00007" URI="http://www.legislation.gov.uk/id/uksi/2010/35/article/2" SectionRef="article-2" Operative="true">2</CitationSubRef>
</Text>
</Para>
</Commentary>
<Commentary id="key-405c95bae84361ac4ed47e7b3280e40f" Type="F">
<Para>
<Text>
Word in
<CitationSubRef id="c99xich14-00017" SectionRef="section-48H-1" URI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/48H/1">s. 48H(1)</CitationSubRef>
omitted (31.12.2020) by virtue of
<Citation URI="http://www.legislation.gov.uk/id/uksi/2018/1394" id="c99xich14-00018" Class="UnitedKingdomStatutoryInstrument" Year="2018" Number="1394" Title="The Bank Recovery and Resolution and Miscellaneous Provisions (Amendment) (EU Exit) Regulations 2018">The Bank Recovery and Resolution and Miscellaneous Provisions (Amendment) (EU Exit) Regulations 2018 (S.I. 2018/1394)</Citation>
,
<CitationSubRef id="c99xich14-00019" CitationRef="c99xich14-00018" SectionRef="regulation-1-2" URI="http://www.legislation.gov.uk/id/uksi/2018/1394/regulation/1/2">reg. 1(2)</CitationSubRef>
,
<CitationSubRef id="c99xich14-00020" CitationRef="c99xich14-00018" SectionRef="schedule-1-paragraph-22-2-a" URI="http://www.legislation.gov.uk/id/uksi/2018/1394/schedule/1/paragraph/22/2/a" Operative="true">Sch. 1 para. 22(2)(a)</CitationSubRef>
;
<Citation URI="http://www.legislation.gov.uk/id/ukpga/2020/1" id="c99xich14-00021" Year="2020" Class="UnitedKingdomPublicGeneralAct" Number="1">2020 c. 1</Citation>
,
<CitationSubRef id="c99xich14-00022" CitationRef="c99xich14-00021" URI="http://www.legislation.gov.uk/id/ukpga/2020/1/schedule/5/paragraph/1/1" SectionRef="schedule-5-paragraph-1-1">Sch. 5 para. 1(1)</CitationSubRef>
</Text>
</Para>
</Commentary>
<Commentary id="key-66128f0e1311ca44b09df6cb3e25b25a" Type="F">
<Para>
<Text>
Pt. 1 Ch. 3 formed from ss. 4-83 (1.1.2015) by
<Citation URI="http://www.legislation.gov.uk/id/uksi/2014/3329" id="cosf2jbd3-00092" Class="UnitedKingdomStatutoryInstrument" Year="2014" Number="3329" Title="The Bank Recovery and Resolution Order 2014">The Bank Recovery and Resolution Order 2014 (S.I. 2014/3329)</Citation>
,
<CitationSubRef id="cosf2jbd3-00093" CitationRef="cosf2jbd3-00092" URI="http://www.legislation.gov.uk/id/uksi/2014/3329/article/1/2" SectionRef="article-1-2">arts. 1(2)</CitationSubRef>
,
<CitationSubRef id="cosf2jbd3-00094" CitationRef="cosf2jbd3-00092" URI="http://www.legislation.gov.uk/id/uksi/2014/3329/article/7" SectionRef="article-7" Operative="true">7</CitationSubRef>
</Text>
</Para>
</Commentary>
<Commentary id="key-cdfdd770c14edcbf7a1a7a7e17cec1b6" Type="F">
<Para>
<Text>
<CitationSubRef id="c99xich14-00028" SectionRef="section-48H-1-c" URI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/48H/1/c">S. 48H(1)(c)</CitationSubRef>
and word inserted (31.12.2020) by
<Citation URI="http://www.legislation.gov.uk/id/uksi/2018/1394" id="c99xich14-00029" Class="UnitedKingdomStatutoryInstrument" Year="2018" Number="1394" Title="The Bank Recovery and Resolution and Miscellaneous Provisions (Amendment) (EU Exit) Regulations 2018">The Bank Recovery and Resolution and Miscellaneous Provisions (Amendment) (EU Exit) Regulations 2018 (S.I. 2018/1394)</Citation>
,
<CitationSubRef id="c99xich14-00030" CitationRef="c99xich14-00029" SectionRef="regulation-1-2" URI="http://www.legislation.gov.uk/id/uksi/2018/1394/regulation/1/2">reg. 1(2)</CitationSubRef>
,
<CitationSubRef id="c99xich14-00031" CitationRef="c99xich14-00029" SectionRef="schedule-1-paragraph-22-2-b" URI="http://www.legislation.gov.uk/id/uksi/2018/1394/schedule/1/paragraph/22/2/b" Operative="true">Sch. 1 para. 22(2)(b)</CitationSubRef>
;
<Citation URI="http://www.legislation.gov.uk/id/ukpga/2020/1" id="c99xich14-00032" Year="2020" Class="UnitedKingdomPublicGeneralAct" Number="1">2020 c. 1</Citation>
,
<CitationSubRef id="c99xich14-00033" CitationRef="c99xich14-00032" URI="http://www.legislation.gov.uk/id/ukpga/2020/1/schedule/5/paragraph/1/1" SectionRef="schedule-5-paragraph-1-1">Sch. 5 para. 1(1)</CitationSubRef>
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</Commentary>
<Commentary id="key-e08285c6098396b69338da688e9dbcc0" Type="F">
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<Text>
Ss. 48B-48W and cross-heading inserted (1.3.2014 for the insertion of s. 48P for specified purposes, 31.12.2014 in so far as not already in force) by
<Citation URI="http://www.legislation.gov.uk/id/ukpga/2013/33" id="coh8fvyh3-00021" Class="UnitedKingdomPublicGeneralAct" Year="2013" Number="33" Title="Financial Services (Banking Reform) Act 2013">Financial Services (Banking Reform) Act 2013 (c. 33)</Citation>
,
<CitationSubRef id="coh8fvyh3-00022" CitationRef="coh8fvyh3-00021" URI="http://www.legislation.gov.uk/id/ukpga/2013/33/section/148/5" SectionRef="section-148-5">s. 148(5)</CitationSubRef>
,
<CitationSubRef id="coh8fvyh3-00023" CitationRef="coh8fvyh3-00021" URI="http://www.legislation.gov.uk/id/ukpga/2013/33/schedule/2/paragraph/4" SectionRef="schedule-2-paragraph-4" Operative="true">Sch. 2 para. 4</CitationSubRef>
;
<Citation URI="http://www.legislation.gov.uk/id/uksi/2014/377" id="coh8fvyh3-00024" Class="UnitedKingdomStatutoryInstrument" Year="2014" Number="377" Title="The Financial Services (Banking Reform) Act 2013 (Commencement No. 1) Order 2014">S.I. 2014/377</Citation>
,
<CitationSubRef id="coh8fvyh3-00025" CitationRef="coh8fvyh3-00024" URI="http://www.legislation.gov.uk/id/uksi/2014/377/article/2/1/b" SectionRef="article-2-1-b">art. 2(1)(b)</CitationSubRef>
,
<CitationSubRef id="coh8fvyh3-00026" CitationRef="coh8fvyh3-00024" URI="http://www.legislation.gov.uk/id/uksi/2014/377/schedule/part/2" SectionRef="schedule-part-2">Sch. Pt. 2</CitationSubRef>
;
<Citation URI="http://www.legislation.gov.uk/id/uksi/2014/3160" id="coh8fvyh3-00027" Class="UnitedKingdomStatutoryInstrument" Year="2014" Number="3160" Title="The Financial Services (Banking Reform) Act 2013 (Commencement No. 7) Order 2014">S.I. 2014/3160</Citation>
,
<CitationSubRef id="coh8fvyh3-00028" CitationRef="coh8fvyh3-00027" URI="http://www.legislation.gov.uk/id/uksi/2014/3160/article/2/1/b" SectionRef="article-2-1-b">art. 2(1)(b)</CitationSubRef>
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<Commentary id="key-e2bd943843d5ff615842e686d3015149" Type="F">
<Para>
<Text>
<CitationSubRef id="c99xich14-00006" SectionRef="section-48H-7A" URI="http://www.legislation.gov.uk/id/ukpga/2009/1/section/48H/7A">S. 48H(7A)</CitationSubRef>
inserted (31.12.2020) by
<Citation URI="http://www.legislation.gov.uk/id/uksi/2018/1394" id="c99xich14-00007" Class="UnitedKingdomStatutoryInstrument" Year="2018" Number="1394" Title="The Bank Recovery and Resolution and Miscellaneous Provisions (Amendment) (EU Exit) Regulations 2018">The Bank Recovery and Resolution and Miscellaneous Provisions (Amendment) (EU Exit) Regulations 2018 (S.I. 2018/1394)</Citation>
,
<CitationSubRef id="c99xich14-00008" CitationRef="c99xich14-00007" SectionRef="regulation-1-2" URI="http://www.legislation.gov.uk/id/uksi/2018/1394/regulation/1/2">reg. 1(2)</CitationSubRef>
,
<CitationSubRef id="c99xich14-00009" CitationRef="c99xich14-00007" SectionRef="schedule-1-paragraph-22-3" URI="http://www.legislation.gov.uk/id/uksi/2018/1394/schedule/1/paragraph/22/3" Operative="true">Sch. 1 para. 22(3)</CitationSubRef>
;
<Citation URI="http://www.legislation.gov.uk/id/ukpga/2020/1" id="c99xich14-00010" Year="2020" Class="UnitedKingdomPublicGeneralAct" Number="1">2020 c. 1</Citation>
,
<CitationSubRef id="c99xich14-00011" CitationRef="c99xich14-00010" URI="http://www.legislation.gov.uk/id/ukpga/2020/1/schedule/5/paragraph/1/1" SectionRef="schedule-5-paragraph-1-1">Sch. 5 para. 1(1)</CitationSubRef>
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</Para>
</Commentary>
<Commentary id="key-f4fd0d520deafd39562d2dea05f424f5" Type="C">
<Para>
<Text>
Pt. 1: power to amend conferred (1.3.2014) by
<Citation URI="http://www.legislation.gov.uk/id/ukpga/2013/33" id="ckn1g5hk3-00068" Class="UnitedKingdomPublicGeneralAct" Year="2013" Number="33" Title="Financial Services (Banking Reform) Act 2013">Financial Services (Banking Reform) Act 2013 (c. 33)</Citation>
,
<CitationSubRef id="ckn1g5hk3-00069" CitationRef="ckn1g5hk3-00068" URI="http://www.legislation.gov.uk/id/ukpga/2013/33/section/17/3/f" SectionRef="section-17-3-f" Operative="true">ss. 17(3)(f)</CitationSubRef>
,
<CitationSubRef id="ckn1g5hk3-00070" CitationRef="ckn1g5hk3-00068" URI="http://www.legislation.gov.uk/id/ukpga/2013/33/section/148/5" SectionRef="section-148-5">148(5)</CitationSubRef>
;
<Citation URI="http://www.legislation.gov.uk/id/uksi/2014/377" id="ckn1g5hk3-00071" Class="UnitedKingdomStatutoryInstrument" Year="2014" Number="377" Title="The Financial Services (Banking Reform) Act 2013 (Commencement No. 1) Order 2014">S.I. 2014/377</Citation>
,
<CitationSubRef id="ckn1g5hk3-00072" CitationRef="ckn1g5hk3-00071" URI="http://www.legislation.gov.uk/id/uksi/2014/377/article/2/1/b" SectionRef="article-2-1-b">art. 2(1)(b)</CitationSubRef>
,
<CitationSubRef id="ckn1g5hk3-00073" CitationRef="ckn1g5hk3-00071" URI="http://www.legislation.gov.uk/id/uksi/2014/377/schedule/part/2" SectionRef="schedule-part-2">Sch. Pt. 2</CitationSubRef>
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