100. Groups

(1) The Banking Act 2009 is amended as follows.

(2) In section 1 (overview), for the entry in the Table relating to sections 82 and 83 substitute -

"Sections 81B to 83

Groups".

(3) In section 20 (directors), after subsection (1) insert -

"(1A) Subsection (1) also applies to a director of any undertaking which is a banking group company in respect of a specified bank."

(4) After section 36 insert -

"36A Directors

(1) A property transfer instrument may enable the Bank of England -

(a) to remove a director of a specified bank;

(b) to vary the service contract of a director of a specified bank;

(c) to terminate the service contract of a director of a specified bank;

(d) to appoint a director of a specified bank.

(2) Subsection (1) also applies to a director of any undertaking which is a banking group company in respect of a specified bank.

(3) Appointments under subsection (1)(d) are to be on terms and conditions agreed with the Bank of England."

(5) For the italic heading

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