2008 No. 432

BANKS AND BANKING

The Northern Rock plc Transfer Order 2008

Made

Laid before Parliament

Coming into force

It appears to the Treasury to be desirable to make this Order for the following purpose:

to protect the public interest, in circumstances where the Treasury have provided financial assistance1 to Northern Rock plc, being an authorised UK deposit-taker2, for the purpose of maintaining the stability of the UK financial system.

The Treasury, in exercise of the powers conferred by sections 3, 4, 12 and 13(2) of the Banking (Special Provisions) Act 20083, make the following Order: