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The Amendments of the Law (Resolution of Silicon Valley Bank UK Limited) Order 2023
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Statutory Instruments
2023 No. 319
Banks And Banking
The Amendments of the Law (Resolution of Silicon Valley Bank UK Limited) Order 2023
Approved by both Houses of Parliament
Made
at 7.36 a.m. on 13th March 2023
Coming into force
at 8.00 a.m. on 13th March 2023
Laid before Parliamentat 3.30 p.m. on 13th March 2023
This Order is made in exercise of the powers conferred by section 75 of the Banking Act 2009(1).
This Order is made for the purpose of enabling the powers under Part 1 of that Act to be used effectively in connection with the sale of Silicon Valley Bank UK Limited to a private sector purchaser (HSBC UK Bank plc).
In accordance with section 75(1) of that Act, the Treasury have had regard to the special resolution objectives.
In accordance with section 75(8) of that Act, the Treasury think it necessary to make this Order without a draft of it having been approved by a resolution of each House of Parliament.
Accordingly, the Treasury make the following Order.
(1)
2009 c. 1, to which there are amendments that are not relevant to this Order.
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