Schedule 11, Part 5, paragraph 78(3)

The Treasury may by regulations — restrict the making of a write-down instrument in cases that involve, or where they might affect, protected arrangements; impose conditions on the making of write-down instruments in cases that involve, or where they might affect, protected arrangements; require write-down instruments to include specified provision, or provision to a specified effect, in respect of or for purposes connected with protected arrangements; provide for a write-down instrument to be void or voidable, or for other consequences to arise, if or in so far as the write-down instrument is made or purported to be made in contravention of a provision of the regulations; specify principles to which the Bank is to be required to have regard in making a write-down instrument— that involves protected arrangements, or where the making of the instrument might affect protected arrangements.

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