Section 82

The Treasury may take a parent undertaking of a bank (the “holding company”) into temporary public ownership, in accordance with section 13(2), if the following conditions are met. Condition 1 is that the PRA is satisfied that the general conditions for the exercise of a stabilisation power set out in section 7 are met in respect of the bank. Condition 2 is that the Treasury are satisfied that it is necessary to take action in respect of the holding company for the purpose specified in Condition A or B of section 9. Condition 3 is that the holding company is an undertaking incorporated in, or formed under the law of any part of, the United Kingdom. Before determining whether Condition 2 is met the Treasury must consult— the PRA, the FCA, and the Bank of England. Expressions used in this section have the same meaning as in the Companies Act 2006.

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