Part 1 U.K.Special Resolution Regime

Modifications etc. (not altering text)

C1 Pt. 1 restricted (7.1.2010) by Banking Act 2009 (Exclusion of Insurers) Order 2010 (S.I. 2010/35), arts. 1, 2

C2 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

[F1 Chapter 3 U.K. Special resolution action]

Textual Amendments

F1 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), 7

Compensation U.K.

61 Sources of compensation U.K.

(1) This section applies to—

(a) compensation scheme orders,

(b) resolution fund orders,

(c) third party compensation orders, F2 ...

[F3 (ca) bail-in compensation orders,]

(d) regulations under section 60[F4 , and]

[F4 (e) regulations under section 60A.]

(2) An order or regulations may provide for compensation or other payments to be made by—

(a) the Treasury,

(b) the Financial Services Compensation Scheme, [F5 subject to section 214C of the Financial Services and Markets Act 2000 (limit on amount of special resolution regime payments),] or

(c) any other specified person.

Textual Amendments

F2 Word in s. 61(1)(c) omitted (31.12.2014) by virtue of Financial Services (Banking Reform) Act 2013 (c. 33), s. 148(5), Sch. 2 para. 6(9)(a); S.I. 2014/3160, art. 2(1)(b)

F3 S. 61(1)(ca) inserted (31.12.2014) by Financial Services (Banking Reform) Act 2013 (c. 33), s. 148(5), Sch. 2 para. 6(9)(b); S.I. 2014/3160, art. 2(1)(b)

F4 S. 61(1)(e) and preceding word inserted (31.12.2014) by Financial Services (Banking Reform) Act 2013 (c. 33), s. 148(5), Sch. 2 para. 6(9)(c); S.I. 2014/3160, art. 2(1)(b)

F5 Words in s. 61(2)(b) substituted (8.4.2010) by Financial Services Act 2010 (c. 28), s. 26(1)(l), Sch. 2 para. 41

Commencement Information

I1 S. 61 in force at 21.2.2009 in so far as not already in force by S.I. 2009/296, arts. 2, 3, Sch. para. 1