80[F1Resolution company:] reportU.K.
(1)Where the Bank of England transfers all or part of a bank's business to a [F2resolution company], the Bank must report to the Chancellor of the Exchequer about the activities of the [F2resolution company].
(2)The first report must be made as soon as is reasonably practicable after the end of one year beginning with the date of the first transfer to the [F2resolution company].
(3)A report must be made as soon as is reasonably practicable after the end of each subsequent year.
(4)The Chancellor of the Exchequer must lay a copy of each report under subsection (2) or (3) before Parliament.
(5)The Bank must comply with any request of the Treasury for a report dealing with specified matters in relation to a [F2resolution company].
(6)A request under subsection (5) may include provision about—
(a)the content of the report;
(b)timing.
Textual Amendments
F1Words in s. 80 heading substituted (1.1.2015) by The Bank Recovery and Resolution Order 2014 (S.I. 2014/3329), arts. 1(2), 87(2)
F2Words in s. 80 substituted (1.1.2015) by The Bank Recovery and Resolution Order 2014 (S.I. 2014/3329), arts. 1(2), 87(1)
Commencement Information
I1S. 80 in force at 21.2.2009 by S.I. 2009/296, art. 3, Sch. para. 1