(1) Section 6B applies in relation to a bank in the cases set out in subsections (2) to (6).
(2) Case 1 is where -
(a) the conditions imposed by sections 7 to 9 on the exercise of a stabilisation power in respect of the bank are met,
(b) the Bank of England or the Treasury (as the case may be) has decided to exercise the power, and
(c) section 12AA (mandatory write-down etc in bail-in cases) does not apply.
(3) Case 2 is where -
(a) the PRA is satisfied that Condition 1 in section 7 is met in respect of the bank, and
(b) the Bank of England is satisfied that -
(i) (ignoring section 6B) Condition 2 in section 7 is met, and
(ii) that Condition will continue to be met unless the action required by section 6B is taken in respect of the bank.
(4) Case 3 is where -
(b) it is a subsidiary,
(c) relevant capital instruments issued by it are recognised for the purpose of meeting own funds requirements on an individual basis and on a consolidated basis, and
(d) the Bank of
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