(1) The power of the Treasury to make an order under -

(a) section 3 (transfer of securities issued by an authorised UK deposit-taker), or

(b) section 6 (transfer of property, rights and liabilities of an authorised UK deposit-taker),

is exercisable in relation to an authorised UK deposit-taker if (and only if) it appears to the Treasury to be desirable to make the order for either or both of the following purposes.

This is subject to subsection (7).

(2) The purposes are -

(a) maintaining the stability of the UK financial system in circumstances where the Treasury consider that there would be a serious threat to its stability if the order were not made;

(b) protecting the public interest in circumstances where financial assistance has been provided by the Treasury to the deposit-taker for the purpose of maintaining the stability of the UK financial system.

(3) The reference in subsection (2)(b) to the provision of financial assistance by the Treasury to the deposit-taker includes -

(a) any case where the Bank of England has provided financial assistance to the deposit-taker and -