Modifications etc. (not altering text)
C1Pt. 1 restricted (7.1.2010) by Banking Act 2009 (Exclusion of Insurers) Order 2010 (S.I. 2010/35), arts. 1, 2
C2Pt. 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
Textual Amendments
F1Pt. 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
(1)Where the Treasury make one or more share transfer orders under section 13(2) in respect of a bank, the Treasury must lay before Parliament a report about the activities of the bank.
(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 share transfer order.
(3)A report must be made as soon as is reasonably practicable after the end of each subsequent year.
(4)The obligation to produce reports continues to apply in respect of each year until the first during which no securities issued by the bank are owned by—
(a)a company wholly owned by the Treasury, or
(b)a nominee of the Treasury.
Commencement Information
I1S. 81 in force at 21.2.2009 by S.I. 2009/296, art. 3, Sch. para. 1