Section 81AA(2)

Case 1 is where— the conditions imposed by section 81B or 81ZBA on the exercise of a stabilisation power in accordance with section 11(2), 12(2) or 12ZA(3) are met in respect of the banking group company, the Bank of England has decided to exercise the stabilisation power, if the banking group company— the requirements of subsection (3) are met, and is a financial institution which is a subsidiary of an institution (within the meaning of Article 4.1A of the capital requirements regulation) (“the parent institution”), but is not an entity within subsection (2A), section 12AA (mandatory write-down etc in bail-in cases) does not apply in relation to the banking group company by virtue of the exercise of a power under section 81BA (bail-in: banking group company).

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