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Bank Recovery and Resolution Order 2016 [SI 2016 No. 1239]Introductory TextPart 1 Citation and commencement (art. 1)Article 1 Citation and commencementPart 2 Amendments of the Banking Act 2009 and related provision (arts. 2-28)Chapter 1 Amendments of the Banking Act 2009 (arts. 2-27)Article 2 Introduction to amendments of the Banking Act 2009Article 3 OverviewArticle 4 Interpretation of Part 1 of the Banking Act 2009Article 5 Removal of impediments to the exercise of the stabilisation powers etcArticle 6 Cases where mandatory write-down, conversion etc appliesArticle 7 General conditionsArticle 8 Private sector purchasersArticle 9 Onward transfersArticle 10 Reverse share transfersArticle 11 Property transfer instruments: special bail-in provisionArticle 12 Property transfer instruments and bail-in: supplementary mattersArticle 13 Resolution company: asset and liability transfers from subsidiary banksArticle 14 Recovery of expensesArticle 15 Termination rights etcArticle 16 Onward and reverse transfersArticle 17 Independent valuationArticle 18 Cases where mandatory write-down etc applies: banking group companiesArticle 19 Section 83ZW: renumberingArticle 20 Building societiesArticle 21 Building societies: Bridge bank optionArticle 22 Building Societies: amendment of section 84DArticle 23 Application to investment firmsArticle 24 Application to recognised central counterpartiesArticle 25 Restrictions on disclosure of confidential informationArticle 26 Bank administrationArticle 27 Index of defined termsChapter 2 Building Societies: chargesArticle 28 Building Societies: chargesPart 3 Resolution of UK branches of third-country institutions (art. 29)Article 29 Resolution of UK branches of third-country institutionsPart 4 Amendments of the Financial Services and Markets Act 2000 (arts. 30-35)Article 30 Introduction to amendments of the Financial Services and Markets Act 2000Article 31 General meetingArticle 32 Removal of directors and senior executives and appointment of temporary managerArticle 33 Assessment and resolutionArticle 34 Restrictions on disclosure of confidential informationArticle 35 Supervisory noticesPart 5 Amendments of secondary legislation (arts. 36-41)Article 36 Banking Act 2009 (Restriction of Partial Property Transfers) Order 2009Article 37 Banking Act 2009 (Exclusion of Investment Firms of a Specified Description) Order 2014Article 38 Banking Act 2009 (Third Party Compensation Arrangements for Partial Property Transfers) Regulations 2009Article 39 Banking Act 2009 (Restriction of Special Bail-in Provision, etc) Order 2014Article 40 Banking Act 2009 (Mandatory Compensation Arrangements Following Bail-in) Regulations 2014Article 41 Bank Recovery and Resolution (No. 2) Order 2014Part 6 Review (art. 42)Article 42 ReviewSignatureExplanatory NoteExplanatory Memorandum
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Version status: | Document consolidation status: Updated to reflect all known changes
Version date: 15 December 2016 - onwards

Explanatory Memorandum

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