Section 12(3D)

The Bank of England may extend (or further extend) the relevant post-transfer period by one year if it is satisfied that the extension— would support one or more of the outcomes mentioned in subsection (3A)(a) or (3B)(a), (b) or (c), or is necessary to ensure the continuity of essential banking or financial services.

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Source: legislation.gov.uk · retrieved 2026-09-04