Code of practice9
1
Section 5 (code of practice)18 is amended as follows.
2
For subsection (1) substitute—
1
The Treasury shall issue a code of practice about—
a
the discharge of the duty imposed by section 6B (mandatory write-down, conversion etc of capital instruments), and
b
the use of—
i
the stabilisation powers,
ii
the bank insolvency procedure, and
iii
the bank administration procedure.
3
In subsection (2), in paragraph (f), for “test for the use of the stabilisation powers in section 8 is” substitute “tests for the use of the stabilisation powers in sections 8 and 8ZA are”.
4
In subsection (3)—
a
after “12” insert “, 12ZA”, and
b
after “bridge banks” insert “, asset management vehicles”.