258 “Enactment”
In this Act “enactment” includes— (a) subordinate legislation, (b) an Act of the Scottish Parliament and an instrument under an Act of the Scottish Parliament, and (c) Northern Ireland legislation.
Propose a changeLaw
Banking Act 2009
United Kingdom · statute
Ask the law about thisMore laws of United KingdomFor machines: Markdown
In force since 2026-01-19, as the publisher states.
Copy read on 2026-11-08. The page it was read from
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.
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Contents: 449 provisions
- Title and introductory text
- 1 Overview
- 2 Interpretation: “bank”
- 3 Interpretation: other expressions
- 3A Removal of impediments to the exercise of stabilisation powers etc
- 3B Safeguards relating to directions under section 3A
- 4 Special resolution objectives
- 5 Code of practice
- 6 Code of practice: procedure
- 6A Cases where mandatory write-down, conversion, etc applies
- 6B Mandatory write-down, conversion, etc of capital instruments and liabilities
- 6C Mandatory reduction instruments: implementation of requirements of section 6B
- 6D Mandatory reduction instruments: supplementary matters
- 6E Pre-resolution valuation
- 7 General conditions
- 7A Effect on other group members, financial stability in UK etc
- 8 Specific Condition: private sector purchaser, bridge bank or asset management vehicle
- 8ZA Specific conditions: asset management vehicle
- 8A Specific condition: bail-in
- 9 Specific conditions: temporary public ownership
- 10 Banking Liaison Panel
- 11 Private sector purchaser
- 11A Private sector purchaser: marketing
- 12 Bridge bank
- 12ZA Asset management vehicle
- 12A Bail-in option
- 12AA Bail-in: sequence of write-down and conversion of capital instruments and liabilities
- 12B Bail-in administrators
- 13 Temporary public ownership
- 14 Interpretation: “securities”
- 15 Share transfer instrument
- 16 Share transfer order
- 17 Effect
- 18 Continuity
- 19 Conversion and delisting
- 20 Directors and senior managers
- 21 Ancillary instruments: production, registration, &c.
- 22 Termination rights, &c.
- 23 Incidental provision
- 24 Procedure: instruments
- 25 Procedure: orders
- 26 Supplemental instruments
- 26ZA Onward share transfer instruments
- 26A ... reverse share transfer instruments
- 27 Supplemental orders
- 28 Onward transfer
- 29 Reverse share transfer orders
- 29A Interpretation: “resolution company”
- 30 Resolution company: share transfers
- 31 Resolution company: reverse share transfer
- 32 Interpretation: general
- 33 Property transfer instrument
- 34 Effect
- 35 Transferable property
- 36 Continuity
- 36A Directors and senior managers
- 37 Licences
- 38 Termination rights, &c.
- 39 Foreign property
- 39A Banks which are recognised central counterparties
- 39B Property transfer instrument: delisting
- 40 Incidental provision
- 41 Procedure
- 41A Transfer of property subsequent to resolution instrument
- 42 Supplemental instruments
- 42A Private sector purchaser: reverse property transfer
- 43 Onward transfer
- 44 Resolution company: reverse property transfer
- 44A Bail in: reverse property transfer
- 44B Property transfer instruments: special bail-in provision
- 44BA Property transfer instruments and special bail-in provision: supplementary matters
- 44C Report on special bail-in provision
- 44D Bridge bank: supplemental property transfer powers
- 44E Bridge bank: supplemental reverse property transfer powers
- 45 Temporary public ownership: property transfer
- 46 Temporary public ownership: reverse property transfer
- 47 Restriction of partial transfers
- 48 Power to protect certain interests
- 48A Creation of liabilities
- 48B Special bail-in provision
- 48C Meaning of “protected deposit”
- 48D General interpretation of section 48B
- 48E Report on special bail-in provision
- 48F Power to amend definition of “excluded liabilities”
- 48G Priority between creditors
- 48H Business reorganisation plans
- 48I Bail-in administrator: further functions
- 48J Bail-in administrator: supplementary
- 48K Bail-in administrator: money
- 48L Powers in relation to securities
- 48M Termination rights, etc
- 48N Directors and senior managers
- 48O Directions in or under resolution instrument
- 48P Orders for safeguarding certain financial arrangements
- 48Q Continuity
- 48R Execution and registration of instruments etc
- 48S Resolution instruments: general matters
- 48T Procedure
- 48U Supplemental resolution instruments
- 48V Onward transfer
- 48W Reverse transfer
- 48WA Bail-in option: recovery of expenses
- 48X Replacement of Bank’s provisional valuation
- 48Y Consequences of a replacement valuation
- 48Z Termination rights etc
- 49 Orders
- 50 Sale to private sector purchaser
- 51 Transfer to temporary public ownership
- 52 Transfer to resolution company
- 52A Bail-in option
- 53 Onward and reverse transfers etc
- 54 Independent valuer: compensation scheme order or bail-in compensation order
- 55 Independent valuer: supplemental
- 56 Independent valuer: money
- 57 Valuation principles
- 58 Resolution fund
- 59 Third party compensation: discretionary provision
- 60 Third party compensation: mandatory provision
- 60A Further mandatory provision: bail-in provision
- 60B Principle of no less favourable treatment
- 61 Sources of compensation
- 62 Procedure
- 62A Independent valuer: sections 6E and 48X
- 62B Resolution administrator
- 62C Resolution administrator: further functions
- 62D Resolution administrator: supplementary
- 62E Resolution administrator: money
- 63 General continuity obligation: property transfers
- 64 Special continuity obligations: property transfers
- 65 Continuity obligations: onward property transfers
- 66 General continuity obligation: share transfers
- 67 Special continuity obligations: share transfers
- 68 Continuity obligations: onward share transfers
- 69 Continuity obligations: consideration and terms
- 70 Continuity obligations: termination
- 70A Suspension of obligations
- 70B Restriction of security interests
- 70C Suspension of termination rights
- 70D Suspension: general provisions
- 71 Pensions
- 72 Enforcement
- 73 Disputes
- 74 Tax
- 75 Power to change law
- 76 International obligation notice: general
- 77 International obligation notice: resolution company
- 78 Public funds: general
- 78A Pre-conditions for financial assistance: duty of Bank to give information
- 79 Public funds: resolution company
- 79A Private sector purchaser: report
- 80 Resolution company: report
- 80A Transfer for bail-in purposes: report
- 81 Temporary public ownership: report
- 81A Accounting information to be included in reports under sections 80, 80A(2)(b) and 81
- 81AA Cases where mandatory write-down, conversion etc applies: banking group companies
- 81B Sale to commercial purchaser and transfer to bridge bank
- 81ZZBA Sale to commercial purchaser and transfer to bridge bank: supplemental powers in relation to certain holding companies
- 81ZZBB Assessment of conditions for section 81ZZBA
- 81ZBA Transfer to asset management vehicle
- 81ZBB Transfer to asset management vehicle: supplemental powers in relation to certain holding companies
- 81ZBC Assessment of conditions for section 81ZBB
- 81BA Bail-in option
- 81BB Bail-in option: supplemental powers in relation to certain holding companies
- 81BC Assessment of conditions for section 81BB
- 81C Sections 81AA to 81ZBB: supplemental
- 81CA Section 81BA and Section 81BB: supplemental
- 81D Interpretation: “banking group company” &c.
- 82 Temporary public ownership
- 83 Supplemental
- 83ZA Information
- 83ZB Reports by skilled persons
- 83ZC Appointment of persons to carry out general investigations
- 83ZD Appointment of person to carry out investigations in particular cases
- 83ZE Investigations etc in support of foreign resolution authorities
- 83ZF Investigations: general
- 83ZG Powers of persons appointed under section 83ZC
- 83ZH Powers of persons appointed as a result of section 83ZD
- 83ZI Admissibility of statements made to investigators
- 83ZJ Information and documents: supplemental provision
- 83ZK Protected items
- 83ZL Entry of premises under warrant
- 83ZM Retention of documents obtained under section 83ZL
- 83ZN Offences etc
- 83ZO Prosecution of offences under section 83ZN
- 83ZP Offences under section 83ZN by bodies corporate etc
- 83ZQ Injunctions: prevent failure to comply with relevant requirement
- 83ZR Regulatory sanctions
- 83ZS Determination of sanctions
- 83ZT Procedure: warning notice
- 83ZU Procedure: decision notice
- 83ZV Procedure: general
- 83ZW Appeal
- 83ZX Injunctions: failure to comply with certain section 83ZR sanctions
- 83ZY Publication
- 83ZZ Co-operation
- 83Z1 Delegation of enforcement functions
- 83Z2 Enforcement: share transfer orders
- 83A Modifications of Part
- 84 Application of Part 1: general
- 84ZA Bridge bank: share transfer instruments
- 84A Bail-in option: building societies
- 84B Further provision: conversion of building society into company
- 84C Further provision: transfer of business of building society to company
- 84D Transfer to a bridge bank or Bail-in option: modifications of this Act and other legislation
- 85 Temporary public ownership
- 86 Distribution of assets on dissolution or winding up
- 87 Interpretation
- 88 Consequential provision
- 89 Credit unions
- 89A Application to investment firms
- 89B Application to recognised central counterparties
- 89C Recognised central counterparty rules
- 89D Recognised central counterparty membership
- 89E Recognition of transferee company
- 89F Recognised central counterparty compensation orders
- 89G Interpretation: “recognised central counterparty” &c.
- 89H Recognition of third-country resolution actions
- 89I Effect of recognition of third-country resolution action by Bank of England
- 89J Third-country instruments: supplementary provision
- 89JA Resolution of UK branches of third-country institutions
- 89K Insolvency Proceedings
- 89L Restrictions on disclosure of confidential information
- 89M Giving of notices, documents etc under Part 1
- 90 Overview
- 91 Interpretation: “bank”
- 92 Interpretation: “the court”
- 93 Interpretation: other expressions
- 94 The order
- 95 Application
- 96 Grounds for applying
- 97 Grounds for making
- 98 Commencement
- 99 Objectives
- 100 Liquidation committee
- 101 Liquidation committee: supplemental
- 102 Objective 1: (a) or (b)?
- 103 General powers, duties and effect
- 104 Additional general powers
- 105 Status of bank liquidator
- 106 Term of appointment
- 107 Resignation
- 108 Removal by court
- 109 Removal by creditors
- 110 Disqualification
- 111 Release
- 112 Replacement
- 113 Company voluntary arrangement
- 114 Administration
- 115 Dissolution
- 116 Dissolution: supplemental
- 117 Bank insolvency as alternative order
- 118 Voluntary winding-up
- 119 Exclusion of other procedures
- 120 Notice to PRA of preliminary steps
- 120A Notice to the regulators and the Bank of England of preliminary steps
- 121 Disqualification of directors
- 122 Application of insolvency law
- 123 Role of FSCS
- 124 Transfer of accounts
- 125 Rules
- 126 Fees
- 127 Insolvency Services Account
- 128 Evidence
- 129 Co-operation between courts
- 129A Banks not regulated by PRA
- 130 Building societies
- 131 Credit unions
- 132 Partnerships
- 133 Scottish partnerships
- 134 Northern Ireland
- 135 Consequential provision
- 136 Overview
- 137 Objectives
- 138 Objective 1: supporting private sector purchaser or resolution company
- 139 Objective 1: duration
- 140 Objective 2: “normal” administration
- 141 Bank administration order
- 142 Application
- 143 Grounds for applying
- 144 Grounds for making
- 145 General powers, duties and effect
- 145A Power to direct bank administrator
- 146 Status of bank administrator
- 147 Administrator's proposals
- 148 Sharing information
- 149 General application of this Part
- 150 Resolution company to private purchaser
- 151 Property transfer from resolution company
- 152 Property transfer from temporary public ownership
- 152A Property transfer from transferred institution
- 153 Successful rescue
- 154 Winding-up or voluntary arrangement
- 155 Disqualification of directors
- 156 Application of other law
- 157 Other processes
- 157A Banks not regulated by PRA
- 158 Building societies
- 159 Credit unions
- 159A Application to investment firms
- 160 Rules
- 161 Fees
- 162 Evidence
- 163 Partnerships
- 164 Scottish partnerships
- 165 Co-operation between courts
- 166 Interpretation: general
- 167 Northern Ireland
- 168 Consequential provision
- 169 Overview
- 171 Special resolution regime
- 173 Borrowing from National Loans Fund
- 174 Procedure for claims
- 175 Rights in insolvency
- 176 Information
- 177 Payments in error
- 178 Regulations
- 179 Delegation of functions
- 180 Functions under this Act
- 181 Overview
- 182 Interpretation: ... key terms
- 183 Interpretation: other expressions
- 184 Recognition order : payment system
- 184A Recognition order: DSA service provider
- 185 Recognition criteria : payment system
- 185A Recognition criteria: DSA service provider
- 186 Procedure
- 186A Amendment of recognition order
- 187 De-recognition
- 188 Principles
- 189 Codes of practice
- 190 System rules
- 190A Service provider rules
- 191 Directions
- 192 Role of FCA and PRA
- 192A Power of Bank to require FCA to refrain from specified action
- 193 Inspection
- 194 Inspection: warrant
- 195 Independent report
- 196 Compliance failure
- 197 Publication
- 198 Penalty
- 199 Closure
- 200 Management disqualification
- 201 Warning
- 202 Appeal
- 202A Injunctions
- 203 Fees
- 203A Records
- 203B Annual report
- 203C Policy statement
- 204 Information
- 205 Pretending to be recognised
- 206 Saving for informal oversight
- 206A Service providers
- 206AA Service providers connected with a recognised payment system that uses digital settlement assets
- 206B International obligations
- 206C Overview and purpose
- 206D Policy statement
- 206E Interpretation: “wholesale cash distribution”
- 206F Interpretation: other terms
- 206G Wholesale cash oversight orders
- 206H “Market significance” and “systemic significance”
- 206I Procedure
- 206J Amendment or revocation of a wholesale cash oversight order
- 206K Principles
- 206L Codes of practice
- 206M Directions
- 206N Role of the FCA, PRA and Payment Systems Regulator
- 206O Inspection
- 206P Inspection: warrant
- 206Q Independent report
- 206R Compliance failure
- 206S Publication
- 206T Penalty
- 206U Closure
- 206V Management disqualification
- 206W Warning
- 206X Appeal
- 206Y Injunctions
- 206Z Fees
- 206Z1 Records
- 206Z2 Annual report
- 206Z3 Requirement to provide information
- 206Z4 Disclosure of information
- 206Z5 Saving for informal oversight
- 206Z6 Power to disapply regulation and enforcement provisions
- 207 Overview
- 208 “Banknote”
- 209 “Issue”
- 210 “Authorised bank”
- 211 “Commencement”
- 212 Repeal of old authorising enactments
- 213 Authorisation to issue banknotes
- 214 Consequential repeals and amendments
- 214A Power to designate banks as “authorised banks”
- 215 Banknote regulations
- 216 Banknote rules
- 217 Backing assets
- 218 Information
- 219 Ceasing the business of issuing notes
- 220 Insolvency, &c.
- 221 Offence: unlawful issue
- 222 Financial penalty
- 223 Termination of right to issue
- 224 Application to court
- 225 Organisation
- 226 Discretionary functions
- 227 Exemption
- 228 Consolidated Fund
- 229 National Loans Fund
- 230 “Financial institution”
- 231 Reports
- 232 Definition
- 233 Insolvency regulations
- 234 Regulations: details
- 235 Regulations: procedure
- 236 Review
- 237 Compensation: valuer
- 238 UK financial stability
- 239 Number of directors
- 240 Meetings
- 241 Chair of court
- 242 Quorum
- 243 Tenure
- 244 Immunity
- 245 Weekly return
- 246 Information
- 247 Bank of England Act 1946
- 248 Variation of permission
- 249 Functions
- 250 Information
- 251 Financial assistance to building societies
- 252 Registration of charges
- 253 Registration of charges: Scotland
- 254 Abolition for cheques
- 255 Regulations
- 256 Supplemental
- 256A State aid
- 256B Bank of England” and “Prudential Regulation Authority”
- 257 “Financial assistance”
- 258 “Enactment”
- 258A Investment firm”
- 259 Statutory instruments
- 260 Money
- 261 Index of defined terms
- 262 Repeal
- 263 Commencement
- 264 Extent
- 265 Short title
Proposed changes to this act
No one has proposed a change to this act yet.
449 provisions
258A Investment firm”
(1) In this Act “investment firm” means a UK institution which is (or, but for the exercise of a stabilisation power, would be) an investment firm for the purposes of Regulation (EU) No. 575/2013 of the European Parliament and of the Council as it forms part of assimilated law. (2) But “investment firm” does not include— (a) an institution which is also— (i) a bank (within the meaning of Part 1), (ii) a building society (within the meaning of section 119 of the Building Societies Act 1986), or (iii) a credit union (within the meaning of section 31 of the Credit Unions Act 1979 or Article 2(2) of the Credit Unions (Northern Ireland) Order 1985), or (b) an institution which is of a class or description specified in an order made by the Treasury. (3) An order— (a) is to be made by statutory instrument, and (b) may not be made unless a draft has been laid before and approved by resolution of each House of Parliament. (4) If an order contains a statement that the Treasury are of the opinion that, by reason of urgency, it is necessary to make the order without complying with subsection (3)(b)— (a) the order may be made, and (b) the order lapses unless approved by resolution of each House of Parliament during the period of 28 days (ignoring periods of dissolution, prorogation or adjournment of either House for more than 4 days) beginning with the day on which the order is made. (5) The lapse of an order under subsection (4)(b)— (a) does not invalidate anything done under or in reliance on the order before the lapse and at a time when neither House has declined to approve the order, and (b) does not prevent the making of a new order (in new terms). (6) In subsection (1) “UK institution” means an institution which is incorporated in, or formed under the law of any part of, the United Kingdom.
Propose a change259 Statutory instruments
(1) A statutory instrument under this Act— (a) may make provision that applies generally or only for specified purposes, cases or circumstances, (b) may make different provision for different purposes, cases or circumstances, and (c) may include incidental, consequential or transitional provision. (2) No statutory instrument under this Act shall be treated as a hybrid instrument under Standing Orders of either House of Parliament. (3) The Table lists the powers to make statutory instruments under this Act and the arrangements for Parliamentary scrutiny in each case (which are subject to subsections (4) to (6)). Section | Topic | Parliamentary scrutiny PART 1–Special resolution regime 2 | Meaning of “bank” | Draft affirmative resolution 2(2A) | Criteria for determining what are critical functions | Negative resolution 25 | Share transfer orders | Negative resolution 47 | Partial transfers | Draft affirmative resolution 48 | Protection of interests | Draft affirmative resolution 48B(13A) | Further provision connected with functions under section 48B(10) | Draft affirmative resolution 48B(16) | Criteria for determining what are core business lines | Negative resolution 48F(1) and (2) | Power to amend definition of “excluded liabilities” | Draft affirmative resolution 48G | Insolvency treatment principles | Draft affirmative resolution 48P | Safeguarding of certain financial arrangements | Draft affirmative resolution 52A | Bail-in compensation orders | Draft affirmative resolution 55 | Independent valuer | Negative resolution 56 | Independent valuer: money | Negative resolution 60 | Third party compensation: partial property transfers | Draft affirmative resolution 60A | Third party compensation: instruments containing special bail-in provision | Draft affirmative resolution 62 | Compensation orders | Draft affirmative resolution 69 | Continuity obligations: consideration and terms | Negative resolution . . . | . . . | . . . 74 | Tax | Draft affirmative resolution (Commons only) 75 | Power to change law | Draft affirmative resolution (except for urgent cases) 78 | Public funds | Negative resolution (Commons only) 81D | Meaning of “banking group company” | Draft affirmative resolution (except for urgent cases) 83ZY | Enforcement of share transfer orders | Negative resolution 85 | Building societies: orders | Negative resolution 86 | Building societies: assets | (As for orders under section 90B of the Building Societies Act 1986) 88 | Building societies: consequential | Draft affirmative resolution 89 | Credit unions | Draft affirmative resolution . . . | . . . | . . . 89JA(8) (modified section 48B(17B)) | Criteria for determining what are core business lines | Negative resolution PART 2–Bank insolvency 91 | Meaning of “bank” | Draft affirmative resolution 122 | Application of insolvency law | Draft affirmative resolution 125 | Rules | (Expansion of power in section 411 of the Insolvency Act 1986) 130 | Building societies | Draft affirmative resolution 131 | Credit unions | Draft affirmative resolution 132 | Partnerships | (As for orders under section 420 of the Insolvency Act 1986) 133 | Scottish partnerships | Negative resolution 135 | Consequential provision | Draft affirmative resolution PART 3–Bank administration 148 | Sharing information | Negative resolution 149 | Multiple original transfers | Draft affirmative resolution 152 | Transfer from temporary public ownership | Draft affirmative resolution 152A | Property transfer from transferred institution | Draft affirmative resolution 156 | Application of other law | Draft affirmative resolution 158 | Building societies | Draft affirmative resolution 159 | Credit unions | Draft affirmative resolution 160 | Rules | (Expansion of power in section 411 of the Insolvency Act 1986) 163 | Partnerships | (As for orders under section 420 of the Insolvency Act 1986) 164 | Scottish partnerships | Negative resolution 168 | Consequential provision | Draft affirmative resolution PART 4–Financial Services Compensation Scheme 170 | Contingency funding | Draft affirmative resolution . . . | . . . | . . . 173 | Borrowing from National Loans Fund | Negative resolution PART 5–... payment systems 182(5C) | Meaning of “digital settlement asset” and “DSA service provider | Draft affirmative resolution 191 | Bank of England directions: immunity | Negative resolution 203 | Fees regulations | Negative resolution 204 | Information | Negative resolution 206A | Services forming part of recognised ... payment systems | Draft affirmative resolution PART 5A - Wholesale cash distribution 206M | Bank of England directions: immunity | Negative resolution 206Z | Fees regulations | Negative resolution 206Z4 | Information | Negative resolution 206Z6 | Power to disapply regulation and enforcement provisions | Draft affirmative resolution PART 6–Banknotes: Scotland and Northern Ireland 214A | Issuers of banknotes: Scotland and Northern Ireland | Draft affirmative resolution 215 | Banknote regulations | Draft affirmative resolution PART 7–Miscellaneous 230 | Financial institution | Negative resolution 232(6) | Investment banks: definition | Draft affirmative resolution 232(7) | Investment banks: definition of investment activity | Negative resolution 233 | Investment banks: insolvency | Draft affirmative resolution 249 | PRA or FCA— functions | Draft affirmative resolution 251 | Central banks: assistance to building societies | Draft affirmative resolution 255 | Financial collateral arrangements | Draft affirmative resolution PART 8–General 257 | Financial assistance | Negative resolution 258A | Meaning of “investment firm” | Draft affirmative resolution (except for urgent cases) 262 | Repeal of Banking (Special Provisions) Act 2008 | None 263 | Commencement | None (4) A power listed in subsection (5) may be exercised without a draft being laid before and approved by resolution of each House of Parliament if— (a) the power is being exercised for the first time, and (b) the person exercising it is satisfied that it is necessary to exercise it without laying a draft for approval. (5) The powers are those in— (a) section 2 (special resolution regime: meaning of “bank”), (b) section 47 (special resolution regime: partial transfers), (c) section 48 (special resolution regime: protection of interests), (d) section 60 (special resolution regime: third party compensation), (da) section 60A (special resolution regime: instruments containing special bail-in provision), (e) section 88 (special resolution regime: building societies: consequential), (f) section 91 (bank insolvency: meaning of “bank”), (g) section 122 (bank insolvency: application of insolvency law), (h) section 130 (bank insolvency: building societies), (i) section 135 (bank insolvency: consequential provision), (j) section 149 (bank administration: multiple original transfers), (k) section 152 (bank administration: transfer from temporary public ownership), (ka) section 152A (bank administration: property transfer from transferred institution), (l) section 156 (bank administration: application of other law), (m) section 158 (bank administration: building societies), (n) section 168 (bank administration: consequential provision), ... (o) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (6) Where an instrument is made in reliance on subsection (5)— (a) it shall lapse unless approved by resolution of each House of Parliament during the period of 28 days (ignoring periods of dissolution, prorogation or adjournment of either House for more than 4 days) beginning with the day on which the instrument is made, (b) the lapse of an instrument under paragraph (a) does not invalidate anything done under or in reliance on it before its lapse and at a time when neither House has declined to approve it, and (c) the lapse of an instrument under paragraph (a) does not prevent the making of a new one (in new terms).
Propose a change260 Money
Expenditure of the Treasury under, by virtue of or in connection with a provision of this Act shall be paid out of money provided by Parliament.
Propose a change261 Index of defined terms
The Table sets out expressions defined in this Act for general purposes. Expression | Section Action | 93 and 166 Additional Tier 1 instruments (in Part 1) | 3 Bail-in compensation order | 49 bail in liabilities | 3 Bank (Part 1) | 2 Bank (Part 2) | 91 Bank administration | 136 Bank administration order | 141 Bank insolvency | 90 Bank insolvency order | 94 Bank of England | 256B Banking group company | 81D Bridge bank | 12 Bridge bank reverse share transfer instrument | 31 Bridge bank share transfer instrument | 30 Bridge bank supplemental property transfer instrument | 44D Bridge bank supplemental reverse property transfer instrument | 44E the capital requirements regulation (in Part 1) | 3 . . . | . . . Client assets (Part 1) | 3 Common Equity Tier 1 instruments (in Part 1) | 3 Compensation scheme order | 49 The court (Part 2) | 92 The court (Part 3) | 166 critical functions (in Part 1) | 3 Eligible depositors | 93 eligible liabilities | 3 Enactment | 258 extraordinary public financial support (in Part 1) | 3 FCA | 3, 93, 166 , 183 & 206F . . . | . . . FSCS (in Part 1) | 3 FSCS (in Part 2) | 93 Fair | 93 Financial assistance | 257 Financial institution | 230 Full payment resolution | 100 Independent valuer | 54 . . . | . . . Investment firm | 258A Liquidation committee | 100 mandatory reduction instrument | 6B Normal insolvency proceedings (in Part 1) | 3 Objective 1 Achievement Notice | 139 Onward bridge bank | 12 Onward property transfer instrument | 43 Onward share transfer instrument | 26ZA Onward share transfer order | 28 own funds (in Part 1) | 3 own funds requirements (in Part 1) | 3 Partial property transfer | 47 Payment system | 182 Payment Systems Regulator | 183 & 206F . . . | . . . PRA | 3, 93, 166 , 183 & 206F Private sector reverse property transfer instrument | 42A Property transfer instrument | 33 Property transfer order | 45 Prudential Regulation Authority | 256B . . . | . . . the recovery and resolution directive (in Part 1) | 3 relevant capital instruments (in Part 1) | 3 relevant internal liabilities | 3 resolution company | 29A resolution entity | 3 Resolution fund order | 49 resolution group | 3 Resolution instrument | 12A Reverse property transfer instrument | 44 Reverse property transfer order | 46 ... reverse share transfer instrument | 26A Reverse share transfer order | 29 Securities | 14 Share transfer instrument | 15 Share transfer order | 16 Special bail-in provision | 48B Special resolution regime | 1 Special resolution objectives | 4 Stabilisation options | 1 Stabilisation powers | 1 Supplemental property transfer instrument | 42 Supplemental share transfer instrument or order | 26 & 27 third-country instrument | 89I Third party compensation order | 49 & 59 Tier 2 instruments (in Part 1) | 3 Unable to pay debts | 93 & 166 . . . | . . .
Propose a change262 Repeal
(1) The Treasury may by order repeal the Banking (Special Provisions) Act 2008. (2) An order— (a) may include savings, and (b) shall be made by statutory instrument. (3) Subsection (2)(a) is without prejudice to the generality of, or the application to this section of, section 259.
Propose a change263 Commencement
(1) The preceding provisions of this Act shall come into force in accordance with provision made by the Treasury by order. (2) Subsection (1) does not apply to section 254, which comes into force at the end of the period of 2 months beginning with the date of Royal Assent. (3) An order under subsection (1)— (a) may make provision generally or only in relation to specific provisions or purposes, (b) may make different provision for different provisions or purposes, (c) may include incidental or transitional provision (including savings), and (d) shall be made by statutory instrument. (4) Where the Treasury or another authority are required to consult or take other action before exercising a power or fulfilling a duty to make legislation or to do any other thing under, by virtue of or in connection with this Act, the Treasury or other authority may rely on consultation or other action carried out before the commencement of the relevant provision of this Act.
Propose a change264 Extent
(1) This Act extends to— (a) England and Wales, (b) Scotland, and (c) Northern Ireland. (2) But— (a) sections 253 and 254 extend to Scotland only, and (b) an amendment of an enactment has the same extent as the enactment (or the relevant part).
Propose a change265 Short title
This Act may be cited as the Banking Act 2009.
Propose a change