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Version status: In force | Document consolidation status: Updated to reflect all known changes
Version date: 1 January 2015 - onwards
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99. Reports following exercise of a stabilisation power

(1) After section 79 of the Banking Act 2009 insert -

"79A Private sector purchaser: report

(1) This section applies where the Bank of England sells all or part of a bank's business to a commercial purchaser.

(2) The Bank must report to the Chancellor of the Exchequer about the exercise of the power to make share transfer instruments and property transfer instruments under section 11(2).

(3) The report must comply with any requirements as to content specified by the Treasury.

(4) The report must be made as soon as is reasonably practicable after the end of one year beginning with the date of the first transfer instrument made under section 11(2)."

(2) After section 81 of that Act insert -

"81A Accounting information to be included in reports under sections 80 and 81

(1) A report under section 80(1) or 81 must include accounting information in respect of the bank or bridge bank that is the subject of the report.

(2) In this section "accounting information" means -

(a) a balance sheet th

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