The Bank Recovery and Resolution (No. 2) Order 2014
Write the words of this act the way you think they should read. Solon shows your change as a redline against the published text and pins it to that exact text, so it can never be applied to wording you did not see.
Change 1
64 Application and interpretation of Chapter 3
(1) This Chapter applies where the Bank, after consulting the appropriate regulator and having made an assessment of resolvability in accordance with Chapter 1, determines that there are substantive impediments to the resolvability of an institution (“the impediments”). (2) In this Chapter— “determination” means a determination of a kind referred to in paragraph (1); “pre-resolution powers” means the powers conferred on the Bank by section 3A of the Banking Act 2009 (removal of impediments to the exercise of stabilisation powers etc); and “relevant proposals” means proposals which— are prepared by an institution to which notice is given under article 65; are for taking measures to address or remove the impediments including a timetable for doing so; and are required to be submitted by the institution within the response period. “response period” means— in a case where the institution does not... meet ... the minimum requirement for own funds and eligible liabilities in accordance with section 3A(4B) of the Banking Act, two weeks beginning with the date on which the institution received the notice; and in any other case, four months beginning with that date.
64 Application and interpretation of Chapter 3
(1) This Chapter applies where the Bank, after consulting the appropriate regulator and having made an assessment of resolvability in accordance with Chapter 1, determines that there are substantive impediments to the resolvability of an institution (“the impediments”). (2) In this Chapter— “determination” means a determination of a kind referred to in paragraph (1); “pre-resolution powers” means the powers conferred on the Bank by section 3A of the Banking Act 2009 (removal of impediments to the exercise of stabilisation powers etc); and “relevant proposals” means proposals which— are prepared by an institution to which notice is given under article 65; are for taking measures to address or remove the impediments including a timetable for doing so; and are required to be submitted by the institution within the response period. “response period” means— in a case where the institution does not... meet ... the minimum requirement for own funds and eligible liabilities in accordance with section 3A(4B) of the Banking Act, two weeks beginning with the date on which the institution received the notice; and in any other case, four months beginning with that date.
One line that says what changes, such as "Halve the dog tax".
Who it helps, what it costs, what it fixes. It is what persuades people to support it.
How this law is officially changed
Solon does not know this law's official route yet. The proposal is recorded all the same, and the route appears here once its source is added.
A proposal here is not law. Support on Solon is evidence that people want the change; the official route says what it takes to make it law.
Sign in to file your proposal. What you have written stays on this page.
Sign in to file itThink it through
Ask what your change would do, who would gain and who would bear a cost, and where something like it is already law. The assistant reads your draft as it stands, cites the law and the studies it finds, and takes no side. What you file stays yours.