C1Part 1Special Resolution Regime
Annotations:
Modifications etc. (not altering text)
Incidental functions
I170Continuity obligations: termination
1
The continuity authority may by notice terminate an obligation arising under section 63 or 66.
2
The power under subsection (1) is exerciseable by giving a notice to each person—
a
on whom the obligation is imposed, or
b
who has benefited or might have expected to benefit from the obligation.
3
In this section “continuity authority”—
a
in relation to section 63, means the Bank of England, and
b
in relation to section 66, has the same meaning as in that section.
4
A reference in subsection (1) to obligations under a section includes a reference to obligations under that section as applied under section 65 or 68.
Pt. 1 restricted (7.1.2010) by Banking Act 2009 (Exclusion of Insurers) Order 2010 (S.I. 2010/35), arts. 1, 2