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Financial Services and Markets Act 2023
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85(1)The Treasury may by regulations make provision for and in connection with the suspension or waiver of provisions made under a resolution instrument.
(2)The following are examples of provision that may be made by regulations under this paragraph—
(a)provision specifying matters to which the Bank must have regard before suspending or waiving provisions under a resolution instrument;
(b)provision specifying the procedure for suspending or waiving such provisions;
(c)provision specifying the maximum time period for which a suspension under the regulations may take effect;
(d)provision for review of any suspension or waiver of provisions under a resolution instrument.
(3)Regulations under this paragraph are subject to the negative procedure.
Commencement Information
I1Sch. 11 para. 85 not in force at Royal Assent, see s. 86(3)
I2Sch. 11 para. 85 in force at 29.8.2023 by S.I. 2023/779, reg. 4(ddd)(xi)
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