Schedule 11, Part 5, paragraph 26(2)

The power in sub-paragraph (1)(a)— may not be exercised so as to increase the value of the liability beyond the value it would have had if the write-down instrument which reduced, cancelled or deferred it had not been made, and must be exercised by a resolution instrument (whether or not that instrument contains any other provision authorised by this Schedule).

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