Section 89I(9)

Section 81B, 81ZBA and 81BA have effect in relation to the exercise of a stabilisation power in respect of a third-country group company as if for subsections (2) and (3) (in each case) there were substituted— Condition 1 is that third-country resolution action has been taken in respect of a third-country institution, a third-country parent undertaking or another third-country group company, in the same group. Condition 2 is that the Bank of England is satisfied that the exercise of the power in respect of the third-country group company is necessary, having regard to the public interest in the stability of the financial systems of the United Kingdom and the country or territory concerned. In subsections (2) and (3) “third-country resolution action”, “third-country institution”, “third-country parent undertaking”, and “third-country group company” have the meaning given by section 89H(7).

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