Bank Resolution (Recapitalisation) Act 2025
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Change 1
6 Amendments to the Financial Services and Markets Act 2000
(1) The Financial Services and Markets Act 2000 is amended as follows. (2) In section 213 (the compensation scheme)— (a) in subsection (5), after “claims” insert “or recapitalisation payments within the meaning of section 214E, as the case may be,”; (b) after subsection (5) insert— (5A) The compensation scheme may not allow the scheme manager to impose levies on credit unions in relation to recapitalisation payments under section 214E. (5B) In subsection (5A), the reference to “credit unions” is to credit unions within the meaning of— (a) the Credit Unions Act 1979 (see section 31); (b) the Credit Unions (Northern Ireland) Order 1985 (S.I. 1985/1205 (N.I. 12)) (see Article 2). (3) In section 223 (management expenses), in subsection (3), after paragraph (c) insert— (ca) under section 214E; . (4) In section 223C (payments in error), in subsection (1), after “214B” insert “, 214E”.
6 Amendments to the Financial Services and Markets Act 2000
(1) The Financial Services and Markets Act 2000 is amended as follows. (2) In section 213 (the compensation scheme)— (a) in subsection (5), after “claims” insert “or recapitalisation payments within the meaning of section 214E, as the case may be,”; (b) after subsection (5) insert— (5A) The compensation scheme may not allow the scheme manager to impose levies on credit unions in relation to recapitalisation payments under section 214E. (5B) In subsection (5A), the reference to “credit unions” is to credit unions within the meaning of— (a) the Credit Unions Act 1979 (see section 31); (b) the Credit Unions (Northern Ireland) Order 1985 (S.I. 1985/1205 (N.I. 12)) (see Article 2). (3) In section 223 (management expenses), in subsection (3), after paragraph (c) insert— (ca) under section 214E; . (4) In section 223C (payments in error), in subsection (1), after “214B” insert “, 214E”.
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