Financial Services Act 2012
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Change 1
67 Interpretation of Part 4
(1) This section has effect for the interpretation of this Part. (2) “Public funds notification” is to be read in accordance with section 58(2). (3) “Financial assistance” includes giving guarantees or indemnities and any other kind of financial assistance (actual or contingent). (4) The Treasury may by order provide that a specified activity or transaction, or class of activity or transaction, is to be or not to be treated as financial assistance for the purposes of this Part; and subsection (3) is subject to this subsection. (5) “Qualifying financial assistance” is to be read in accordance with section 60(5). (6) Group entity” has the same meaning as in the Bank Recovery and Resolution (No. 2) Order 2014 (S.I. 2014/3348). (7) “Group resolution plan” means a group resolution plan drawn up by the Bank under Part 5 of that Order. (8) “Resolution plan” means a resolution plan drawn up by the Bank under Part 5 of that Order. (9) “Stabilisation power” has the same meaning as in section 1(4) of the Banking Act 2009.
67 Interpretation of Part 4
(1) This section has effect for the interpretation of this Part. (2) “Public funds notification” is to be read in accordance with section 58(2). (3) “Financial assistance” includes giving guarantees or indemnities and any other kind of financial assistance (actual or contingent). (4) The Treasury may by order provide that a specified activity or transaction, or class of activity or transaction, is to be or not to be treated as financial assistance for the purposes of this Part; and subsection (3) is subject to this subsection. (5) “Qualifying financial assistance” is to be read in accordance with section 60(5). (6) Group entity” has the same meaning as in the Bank Recovery and Resolution (No. 2) Order 2014 (S.I. 2014/3348). (7) “Group resolution plan” means a group resolution plan drawn up by the Bank under Part 5 of that Order. (8) “Resolution plan” means a resolution plan drawn up by the Bank under Part 5 of that Order. (9) “Stabilisation power” has the same meaning as in section 1(4) of the Banking Act 2009.
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