Banking Act 2009
| Jurisdiction | UK Non-devolved |
| Citation | 2009 c. 1 |
| Year | 2009 |
Banking Act 2009
CHAPTER 1
Explanatory Notes have been produced to assist in the
understanding of this Act and are available separately
Banking Act 2009
CHAPTER 1
CONTENTS
PART 1
SPECIAL RESOLUTION REGIME
Introduction
1Overview
2 Interpretation: “bank”
3 Interpretation: other expressions
Objectives and code
4 Special resolution objectives
5 Code of practice
6 Code of practice: procedure
Exercise of powers: general
7 General conditions
8 Specific conditions: private sector purchaser and bridge bank
9 Specific conditions: temporary public ownership
10 Banking Liaison Panel
The stabilisation options
11 Private sector purchaser
12 Bridge bank
13 Temporary public ownership
Transfer of securities
14 Interpretation: “securities”
15 Share transfer instrument
Banking Act 2009 (c. 1)
ii
16 Share transfer order
17 Effect
18 Continuity
19 Conversion and delisting
20 Directors
21 Ancillary instruments: production, registration, &c.
22 Termination rights, &c.
23 Incidental provision
24 Procedure: instruments
25 Procedure: orders
26 Supplemental instruments
27 Supplemental orders
28 Onward transfer
29 Reverse share transfer
30 Bridge bank: share transfers
31 Bridge bank: reverse share transfer
32 Interpretation: general
Transfer of property
33 Property transfer instrument
34 Effect
35 Transferable property
36 Continuity
37 Licences
38 Termination rights, &c.
39 Foreign property
40 Incidental provision
41 Procedure
42 Supplemental instruments
43 Onward transfer
44 Reverse property transfer
45 Temporary public ownership: property transfer
46 Temporary public ownership: reverse property transfer
47 Restriction of partial transfers
48 Power to protect certain interests
Compensation
49 Orders
50 Sale to private sector purchaser
51 Transfer to temporary public ownership
52 Transfer to bridge bank
53 Onward and reverse transfers
54 Independent valuer
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
61 Sources of compensation
62 Procedure
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