Section 48E(4)

The insolvency treatment principles are that where an instrument includes special bail-in provision— the provision made by the instrument must be consistent with treating all the liabilities of the bank in accordance with the priority they would enjoy on a liquidation, and any creditors who would have equal priority on a liquidation are to bear losses on an equal footing with each other.

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