Banking Act 2009, Section 48S is up to date with all changes known to be in force on or before 06 May 2025. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations.
(1)Provision made in a resolution instrument takes effect despite any restriction arising by virtue of contract or legislation or in any other way.
(2)A resolution instrument may include incidental, consequential or transitional provision.
(3)In relying on subsection (2) a resolution instrument—
(a)may make provision generally or only for specified purposes, cases or circumstances, and
(b)may make different provision for different purposes, cases or circumstances.]
Textual Amendments
F1Ss. 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)
Modifications etc. (not altering text)
C1S. 48S applied (28.12.2020 until IP completion day when the amending provision ceases to have effect in accordance with reg. 1(4) of the amending S.I.) by The Bank Recovery and Resolution (Amendment) (EU Exit) Regulations 2020 (S.I. 2020/1350), regs. 1(4), 86(1)(d) (with reg. 88)
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