Section 12ZA(2)

An “asset management vehicle” is an undertaking which— is wholly or partially owned (directly or indirectly) by the Bank of England or the Treasury, is controlled by the Bank of England, and is created for the purpose of receiving some or all of the assets, rights and liabilities of one or more banks or of one or more bridge banks (or both).

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