Section 138(4)

In the case of bank administration following transfer to a resolution company, the bank administrator must co-operate with any request of the Bank of England to enter into an agreement for the residual bank to provide services or facilities to the resolution company; and— the bank administrator must avoid action that is likely to prejudice performance by the residual bank of its obligations in accordance with an agreement, the bank administrator must ensure that so far as is reasonably practicable an agreement entered into includes provision for consideration at market rate, paragraph (b) does not prevent the bank administrator from entering into an agreement on any terms that the bank administrator thinks necessary in pursuit of Objective 1, and this subsection does not apply after Objective 1 ceases.

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