1. UK Financial Services Law
  2. Legislation (UK)
  3. Acts
  4. 2009
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  1. Banking Act 2009 (c. 1)
  2. Part 1 Special Resolution Regime (ss. 1-89M)
  3. Chapter 3 Special resolution action (ss. 4-83)
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Chapter 3 Special resolution action (ss. 4-83)

Comparing proposed amendment...
Objectives and code (ss. 4-6)
In force
 4. Special resolution objectives
In force
 5. Code of practice
In force
 6. Code of practice: procedure
Mandatory write-down, conversion etc of capital instruments (ss. 6A-6D)
In force
 6A. Cases where mandatory write-down, conversion, etc applies
In force
 6B. Mandatory write-down, conversion, etc of capital instruments and liabilities
In force
 6C. Mandatory reduction instruments: implementation of requirements of section 6B
In force
 6D. Mandatory reduction instruments: supplementary matters
Valuation before mandatory write-down of capital or stabilisation action (s. 6E)
In force
 6E. Pre-resolution valuation
Exercise of powers: general (ss. 7-10)
In force
 7. General conditions
In force
 7A. Effect on other group members, financial stability in UK etc
In force
 8. Specific Condition: private sector purchaser, bridge bank or asset management vehicle
In force
 8ZA. Specific conditions: asset management vehicle
Omitted
 8A. Specific condition: bail-in
In force
 9. Specific conditions: temporary public ownership
In force
 10. Banking Liaison Panel
The stabilisation options (ss. 11-13)
In force
 11. Private sector purchaser
In force
 11A. Private sector purchaser: marketing
In force
 12. Bridge bank
In force
 12ZA. Asset management vehicle
In force
 12A. Bail-in option
In force
 12AA. Bail-in: sequence of write-down and conversion of capital instruments and liabilities
Omitted
 12B. Bail-in administrators
In force
 13. Temporary public ownership
Transfer of securities (ss. 14-32)
In force
 14. Interpretation: "securities"
In force
 15. Share transfer instrument
In force
 16. Share transfer order
In force
 17. Effect
In force
 18. Continuity
In force
 19. Conversion and delisting
In force
 20. Directors and senior managers
In force
 21. Ancillary instruments: production, registration, &c.
Omitted
 22. Termination rights, &c.
In force
 23. Incidental provision
In force
 24. Procedure: instruments
In force
 25. Procedure: orders
In force
 26. Supplemental instruments
In force
 26ZA. Onward share transfer instruments
In force
 26A. Reverse share transfer instruments
In force
 27. Supplemental orders
In force
 28. Onward transfer
In force
 29. Reverse share transfer orders
In force
 29A. Interpretation: "resolution company"
In force
 30. Resolution company: share transfers
In force
 31. Resolution company: reverse share transfer
In force
 32. Interpretation: general
Transfer of property (ss. 33-48)
In force
 33. Property transfer instrument
In force
 34. Effect
In force
 35. Transferable property
In force
 36. Continuity
In force
 36A. Directors and senior managers
In force
 37. Licences
Omitted
 38. Termination rights, &c.
In force
 39. Foreign property
In force
 39A. Banks which are clearing houses
In force
 39B. Property transfer instrument: delisting
In force
 40. Incidental provision
In force
 41. Procedure
In force
 41A. Transfer of property subsequent to resolution instrument
In force
 42. Supplemental instruments
In force
 42A. Private sector purchaser: reverse property transfer
In force
 43. Onward transfer
In force
 44. Resolution company: reverse property transfer
In force
 44A. Bail in: reverse property transfer
In force
 44B. Property transfer instruments: special bail-in provision
In force
 44BA. Property transfer instruments and special bail-in provision: supplementary matters
In force
 44C. Report on special bail-in provision
In force
 44D. Bridge bank: supplemental property transfer powers
In force
 44E. Bridge bank: supplemental reverse property transfer powers
In force
 45. Temporary public ownership: property transfer
In force
 46. Temporary public ownership: reverse property transfer
In force
 47. Restriction of partial transfers
In force
 48. Power to protect certain interests
In force
 48A. Creation of liabilities
Bail-in option (ss. 48B-48W)
In force
 48B. Special bail-in provision
In force
 48C. Meaning of "protected deposit"
In force
 48D. General interpretation of section 48B
In force
 48E. Report on special bail-in provision
In force
 48F. Power to amend definition of "excluded liabilities"
In force
 48G. Priority between creditors
In force
 48H. Business reorganisation plans
Omitted
 48I. Bail-in administrator: further functions
Omitted
 48J. Bail-in administrator: supplementary
Omitted
 48K. Bail-in administrator: money
Partly in force
 48L. Powers in relation to securities
Omitted
 48M. Termination rights, etc
In force
 48N. Directors and senior managers
In force
 48O. Directions in or under resolution instrument
In force
 48P. Orders for safeguarding certain financial arrangements
In force
 48Q. Continuity
In force
 48R. Execution and registration of instruments etc
In force
 48S. Resolution instruments: general matters
In force
 48T. Procedure
In force
 48U. Supplemental resolution instruments
In force
 48V. Onward transfer
In force
 48W. Reverse transfer
In force
 48WA. Bail-in option: recovery of expenses
Replacement of provisional valuation (ss. 48X-48Y)
In force
 48X. Replacement of Bank's provisional valuation
In force
 48Y. Consequences of a replacement valuation
Termination rights etc (s. 48Z)
In force
 48Z. Termination rights etc
Compensation (ss. 49-62)
In force
 49. Orders
In force
 50. Sale to private sector purchaser
In force
 51. Transfer to temporary public ownership
In force
 52. Transfer to resolution company
In force
 52A. Bail-in option
In force
 53. Onward and reverse transfers etc
In force
 54. Independent valuer: compensation scheme order or bail-in compensation order
In force
 55. Independent valuer: supplemental
In force
 56. Independent valuer: money
In force
 57. Valuation principles
In force
 58. Resolution fund
In force
 59. Third party compensation: discretionary provision
In force
 60. Third party compensation: mandatory provision
In force
 60A. Further mandatory provision: bail-in provision
In force
 60B. Principle of no less favourable treatment
In force
 61. Sources of compensation
In force
 62. Procedure
Independent valuer: valuation under section 6E or 48X (s. 62A)
In force
 62A. Independent valuer: sections 6E and 48X
Resolution administrator (ss. 62B-62E)
In force
 62B. Resolution administrator
In force
 62C. Resolution administrator: further functions
In force
 62D. Resolution administrator: supplementary
In force
 62E. Resolution administrator: money
Incidental functions (ss. 63-75)
In force
 63. General continuity obligation: property transfers
In force
 64. Special continuity obligations: property transfers
In force
 65. Continuity obligations: onward property transfers
In force
 66. General continuity obligation: share transfers
In force
 67. Special continuity obligations: share transfers
In force
 68. Continuity obligations: onward share transfers
In force
 69. Continuity obligations: consideration and terms
In force
 70. Continuity obligations: termination
In force
 70A. Suspension of obligations
In force
 70B. Restriction of security interests
In force
 70C. Suspension of termination rights
In force
 70D. Suspension: general provisions
In force
 71. Pensions
Omitted
 72. Enforcement
In force
 73. Disputes
In force
 74. Tax
In force
 75. Power to change law
Treasury (ss. 76-81)
In force
 76. International obligation notice: general
In force
 77. International obligation notice: resolution company
In force
 78. Public funds: general
In force
 78A. Pre-conditions for financial assistance: duty of Bank to give information
In force
 79. Public funds: resolution company
In force
 79A. Private sector purchaser: report
In force
 80. Resolution company: report
In force
 80A. Transfer for bail-in purposes: report
In force
 81. Temporary public ownership: report
In force
 81A. Accounting information to be included in reports under sections 80, 80A(2)(b) and 81
Groups (ss. 81AA-83)
In force
 81AA. Cases where mandatory write-down, conversion etc applies: banking group companies
In force
 81B. Sale to commercial purchaser and transfer to bridge bank
In force
 81ZZBA. Sale to commercial purchaser and transfer to bridge bank: supplemental powers in relation to certain holding companies
In force
 81ZZBB. Assessment of conditions for section 81ZZBA
In force
 81ZBA. Transfer to asset management vehicle
In force
 81ZBB. Transfer to asset management vehicle: supplemental powers in relation to certain holding companies
In force
 81ZBC. Assessment of conditions for section 81ZBB
In force
 81BA. Bail-in option
In force
 81BB. Bail-in option: supplemental powers in relation to certain holding companies
In force
 81BC. Assessment of conditions for section 81BB
In force
 81C. Sections 81AA to 81ZBB: supplemental
In force
 81CA. Section 81BA and Section 81BB: supplemental
In force
 81D. Interpretation: "banking group company" &c.
In force
 82. Temporary public ownership
In force
 83. Supplemental
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