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Version status: Omitted | Document consolidation status: Updated to reflect all known changes
Version date: 31 December 2020 - onwards
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103. State aid

Omitted from 31 December 2020

After section 145 of the Banking Act 2009 insert -

"145A Power to direct bank administrator

(1) This section applies where -

(a) a bank administration order has been made, and

(b) the Treasury are of the opinion that anything done, or proposed to be done, in connection with the exercise of one or more of the stabilisation powers may constitute the granting of aid to which any of the provisions of Article 107 or 108 of TFEU applies ("State aid").

(2) The Treasury may, in writing, direct the bank administrator to take specified action to enable the United Kingdom to fulfil any of the purposes specified in subsection (3).

(3) The purposes are -

(a) to inform the European Commission that State aid has been, may have been, or may be, given;

(b) to obtain a decision from the Commission whether State aid -

(i) has been given, or

(ii) would be given, if the action proposed was taken;

(c) to apply for approval that such aid is, or would be, compatible with the internal market, within the

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