Bank Resolution (Recapitalisation) Act 2025
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
2 Reporting
In Part 15 of the Financial Services and Markets Act 2000, after section 214E (as inserted by section 1 of this Act) insert— Recapitalisation payment: report 214F (1) This section applies where the Bank of England requires the scheme manager to make a recapitalisation payment under section 214E. (2) The Bank must report to the Chancellor of the Exchequer about— (a) the exercise of the power to require a recapitalisation payment to be made, and (b) the stabilisation power and the stabilisation option to which the payment relates. (3) The report (“the final report”) must— (a) comply with such requirements as to content, and (b) be provided within such period or at such time, as the Treasury may specify. (4) The Bank must provide an interim report if— (a) the period specified under subsection (3)(b) is a period of more than 3 months beginning with the day on which the Bank requires the recapitalisation payment in question (“the first 3 months”), or the time specified under subsection (3)(b) is after the first 3 months, and (b) the Bank does not provide the final report within the first 3 months. (5) An interim report must— (a) comply with such requirements as to content as the Treasury may specify, and (b) be provided within the first 3 months. (6) Subject to subsection (7), the Chancellor of the Exchequer must lay each report, and any interim report, before Parliament. (7) The Chancellor of the Exchequer may omit from the report, and any interim report, any information which the Chancellor of the Exchequer considers it would not be in the public interest to publish.
2 Reporting
In Part 15 of the Financial Services and Markets Act 2000, after section 214E (as inserted by section 1 of this Act) insert— Recapitalisation payment: report 214F (1) This section applies where the Bank of England requires the scheme manager to make a recapitalisation payment under section 214E. (2) The Bank must report to the Chancellor of the Exchequer about— (a) the exercise of the power to require a recapitalisation payment to be made, and (b) the stabilisation power and the stabilisation option to which the payment relates. (3) The report (“the final report”) must— (a) comply with such requirements as to content, and (b) be provided within such period or at such time, as the Treasury may specify. (4) The Bank must provide an interim report if— (a) the period specified under subsection (3)(b) is a period of more than 3 months beginning with the day on which the Bank requires the recapitalisation payment in question (“the first 3 months”), or the time specified under subsection (3)(b) is after the first 3 months, and (b) the Bank does not provide the final report within the first 3 months. (5) An interim report must— (a) comply with such requirements as to content as the Treasury may specify, and (b) be provided within the first 3 months. (6) Subject to subsection (7), the Chancellor of the Exchequer must lay each report, and any interim report, before Parliament. (7) The Chancellor of the Exchequer may omit from the report, and any interim report, any information which the Chancellor of the Exchequer considers it would not be in the public interest to publish.
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.
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.