Section 150(3)

Where the Bank gives a Case 2, 4 or 5 notice or a Case 3 notice, it must— send with the notice an explanation of its reasons for considering whether to make the determination concerned; and after consulting the authorities to which the notice has been given assess whether— any alternative measure is available; any alternative measure which is available could feasibly be taken; and there is any reasonable prospect that any alternative measure which is available and could feasibly be taken would, within a reasonable time, avoid the need for the determination.

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