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(1)This section applies only for the purposes of the functions of the Bank of England mentioned in section 83ZA(1).
(2)If it appears to the Bank of England that there is good reason for doing so, the Bank may appoint one or more competent persons to conduct an investigation on its behalf into—
(a)the nature, conduct or state of the business of a bank,
(b)a particular aspect of that business, or
(c)the ownership or control of a bank.
(3)If a person appointed under subsection (2) thinks it necessary for the purposes of the investigation, that person may also investigate the business of a person who is or has at any relevant time been—
(a)a member of a group of which the bank under investigation is part, or
(b)a partnership of which the bank is a member.
(4)A person appointed under subsection (2) who decides to investigate the business of any person under subsection (3) must give that person written notice of that decision.
(5)In this section—
“business” includes any part of a business, and
“group” has the meaning given by section 3(2)(b).]
Textual Amendments
F1Pt. 1 Ch. 4 inserted (1.1.2015) by The Bank Recovery and Resolution Order 2014 (S.I. 2014/3329), arts. 1(2), 97
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