lexiara

BA 2009 — Banking Act 2009

law · United Kingdom · ukpga/2009/1

2516 provisions

Defined terms · All instruments

1 Overview
1
2
3
4
5
6
2 Interpretation: “bank”
1
2
3
4
5
6
7
8
9
10
3 Interpretation: other expressions
1
2
2A
2B
2C
3
4
3A Removal of impediments to the exercise of stabilisation powers etc
1
2
3
4
4A
4B
4C
5
6
7
8
3B Safeguards relating to directions under section 3A
1
2
3
4
5
6
7
8
9
10
4 Special resolution objectives
1
2
3
3A
4
5
6
7
8
9
10
5 Code of practice
1
2
2A
3
4
5
6 Code of practice: procedure
1
2
3
4
5
6A Cases where mandatory write-down, conversion, etc applies
1
2
3
4
5
6
7
8
9
6B Mandatory write-down, conversion, etc of capital instruments and liabilities
1
2
3
4
5
6
7
8
9
10
6C Mandatory reduction instruments: implementation of requirements of section 6B
1
2
3
4
4A
5
6
7
6D Mandatory reduction instruments: supplementary matters
1
2
3
4
6E Pre-resolution valuation
1
2
3
4
5
6
7
8
9
10
11
7 General conditions
1
2
3
4
5
5A
5B
5C
5D
5E
5F
5G
5H
6
7
8
7A Effect on other group members, financial stability in UK etc
1
1A
2
3
8 Specific Condition: private sector purchaser, bridge bank or asset management vehicle
1
2
3
8ZA Specific conditions: asset management vehicle
1
2
3
4
5
6
8A Specific condition: bail-in
9 Specific conditions: temporary public ownership
1
2
3
4
5
10 Banking Liaison Panel
1
2
3
11 Private sector purchaser
1
2
11A Private sector purchaser: marketing
1
2
3
4
5
7
8
12 Bridge bank
1
1A
2
3
3A
3B
3C
3D
4
5
12ZA Asset management vehicle
1
2
3
4
5
6
12A Bail-in option
1
2
2A
2B
2C
3
4
5
6
7
8
9
12AA Bail-in: sequence of write-down and conversion of capital instruments and liabilities
1
2
3
4
5
6
7
8
9
10
12B Bail-in administrators
13 Temporary public ownership
1
2
3
14 Interpretation: “securities”
1
2
3
4
5
15 Share transfer instrument
1
1A
2
16 Share transfer order
1
2
17 Effect
1
2
3
4
5
6
18 Continuity
1
2
3
4
5
5A
6
19 Conversion and delisting
1
2
3
20 Directors and senior managers
1
1A
2
3
4
5
21 Ancillary instruments: production, registration, &c.
1
2
3
4
5
22 Termination rights, &c.
23 Incidental provision
1
2
24 Procedure: instruments
1
2
3
25 Procedure: orders
1
2
3
26 Supplemental instruments
1
2
3
4
5
6
26ZA Onward share transfer instruments
1
2
3
4
5
6
7
26A ... reverse share transfer instruments
1
2
2A
3
4
4A
5
6
7
27 Supplemental orders
1
2
3
4
5
6
28 Onward transfer
1
2
3
4
5
6
7
29 Reverse share transfer orders
1
2
3
4
4A
5
6
7
29A Interpretation: “resolution company”
30 Resolution company: share transfers
1
2
3
4
5
6
31 Resolution company: reverse share transfer
1
2
3
3A
4
5
6
32 Interpretation: general
33 Property transfer instrument
1
2
3
34 Effect
1
2
3
4
5
6
7
8
9
35 Transferable property
1
2
36 Continuity
1
2
3
4
5
6
7
8
9
36A Directors and senior managers
1
2
3
4
5
37 Licences
1
2
3
4
38 Termination rights, &c.
39 Foreign property
1
2
3
4
4A
4B
5
6
7
8
39A Banks which are recognised central counterparties
39B Property transfer instrument: delisting
1
2
40 Incidental provision
1
2
41 Procedure
1
2
3
4
41A Transfer of property subsequent to resolution instrument
1
2
3
4
42 Supplemental instruments
1
2
3
4
5
6
42A Private sector purchaser: reverse property transfer
1
2
3
4
5
6
7
43 Onward transfer
1
2
3
4
5
6
7
8
44 Resolution company: reverse property transfer
1
2
3
4
4A
5
6
7
44A Bail in: reverse property transfer
1
2
3
4
5
6
7
44B Property transfer instruments: special bail-in provision
1
2
3
3A
3B
3C
4
44BA Property transfer instruments and special bail-in provision: supplementary matters
1
2
3
4
44C Report on special bail-in provision
1
2
3
4
5
6
7
44D Bridge bank: supplemental property transfer powers
1
2
3
4
5
6
7
44E Bridge bank: supplemental reverse property transfer powers
1
2
3
4
5
6
7
45 Temporary public ownership: property transfer
1
2
3
4
5
5A
6
7
8
46 Temporary public ownership: reverse property transfer
1
2
3
3A
4
5
5A
6
7
8
47 Restriction of partial transfers
1
1A
2
3
4
5
48 Power to protect certain interests
1
2
3
4
5
6
48A Creation of liabilities
1
2
48B Special bail-in provision
1
2
3
4
5
6
7
7A
8
9
10
11
12
13
13A
13B
13C
14
15
16
17
18
48C Meaning of “protected deposit”
1
4
48D General interpretation of section 48B
1
2
2A
3
48E Report on special bail-in provision
1
2
3
4
5
6
7
48F Power to amend definition of “excluded liabilities”
1
2
3
4
5
48G Priority between creditors
1
2
3
4
5
48H Business reorganisation plans
1
2
3
4
5
6
7
7A
8
48I Bail-in administrator: further functions
48J Bail-in administrator: supplementary
48K Bail-in administrator: money
48L Powers in relation to securities
1
2
3
4
4A
5
6
6A
7
48M Termination rights, etc
48N Directors and senior managers
1
2
3
4
48O Directions in or under resolution instrument
1
2
3
4
5
48P Orders for safeguarding certain financial arrangements
1
2
3
4
5
6
7
8
48Q Continuity
1
2
3
48R Execution and registration of instruments etc
1
2
3
4
48S Resolution instruments: general matters
1
2
3
48T Procedure
1
2
3
48U Supplemental resolution instruments
1
2
3
4
5
48V Onward transfer
1
2
3
4
5
6
7
48W Reverse transfer
1
2
3
4
5
6
7
8
9
10
48WA Bail-in option: recovery of expenses
1
2
3
48X Replacement of Bank’s provisional valuation
1
2
3
48Y Consequences of a replacement valuation
1
2
48Z Termination rights etc
1
2
3
4
5
6
6A
6B
7
8
9
10
11
12
49 Orders
1
2
2A
3
4
50 Sale to private sector purchaser
1
2
3
4
51 Transfer to temporary public ownership
1
2
3
4
52 Transfer to resolution company
1
2
3
4
52A Bail-in option
1
2
3
53 Onward and reverse transfers etc
1
2
54 Independent valuer: compensation scheme order or bail-in compensation order
1
2
3
4
5
55 Independent valuer: supplemental
1
2
3
4
5
6
7
8
9
10
56 Independent valuer: money
1
2
3
4
5
6
57 Valuation principles
1
2
3
3A
4
5
58 Resolution fund
1
2
2A
3
4
5
6
7
8
59 Third party compensation: discretionary provision
1
2
3
60 Third party compensation: mandatory provision
1
2
3
4
5
6
7
60A Further mandatory provision: bail-in provision
1
2
3
4
5
60B Principle of no less favourable treatment
1
2
3
4
61 Sources of compensation
1
2
62 Procedure
1
2
62A Independent valuer: sections 6E and 48X
1
1A
2
2A
2B
3
4
5
6
62B Resolution administrator
1
2
3
4
5
6
7
8
9
10
62C Resolution administrator: further functions
1
2
3
4
62D Resolution administrator: supplementary
1
2
3
62E Resolution administrator: money
1
2
3
63 General continuity obligation: property transfers
1
1A
2
3
3A
4
4A
5
6
7
64 Special continuity obligations: property transfers
1
2
3
4
5
6
7
65 Continuity obligations: onward property transfers
1
2
3
4
5
6
7
8
66 General continuity obligation: share transfers
1
1ZA
1A
2
3
3A
4
4A
5
6
7
8
67 Special continuity obligations: share transfers
1
2
3
4
5
6
68 Continuity obligations: onward share transfers
1
2
3
4
5
6
7
8
69 Continuity obligations: consideration and terms
1
2
3
4
70 Continuity obligations: termination
1
2
3
4
70A Suspension of obligations
1
2
3
4
5
6
7
70B Restriction of security interests
1
2
3
4
5
6
7
70C Suspension of termination rights
1
2
3
4
5
6
7
8
9
10
70D Suspension: general provisions
1
2
71 Pensions
1
2
3
4
5
6
7
72 Enforcement
73 Disputes
1
2
3
74 Tax
1
2
3
4
5
5A
6
7
8
75 Power to change law
1
2
3
4
5
6
7
8
9
76 International obligation notice: general
1
2
3
4
5
77 International obligation notice: resolution company
1
2
3
4
78 Public funds: general
1
2
3
4
5
6
78A Pre-conditions for financial assistance: duty of Bank to give information
1
2
3
4
79 Public funds: resolution company
1
2
3
79A Private sector purchaser: report
1
2
3
4
80 Resolution company: report
1
2
3
4
5
6
80A Transfer for bail-in purposes: report
1
2
3
4
81 Temporary public ownership: report
1
2
3
4
81A Accounting information to be included in reports under sections 80, 80A(2)(b) and 81
1
2
3
81AA Cases where mandatory write-down, conversion etc applies: banking group companies
1
2
2A
3
4
5
6
7
8
8A
9
10
11
12
13
14
81B Sale to commercial purchaser and transfer to bridge bank
1
2
2A
3
4
5
6
7
8
9
81ZZBA Sale to commercial purchaser and transfer to bridge bank: supplemental powers in relation to certain holding companies
1
2
3
4
5
6
7
8
9
10
81ZZBB Assessment of conditions for section 81ZZBA
1
2
3
4
5
6
7
8
9
10
81ZBA Transfer to asset management vehicle
1
2
2A
3
4
5
6
7
8
9
81ZBB Transfer to asset management vehicle: supplemental powers in relation to certain holding companies
1
2
3
4
5
6
7
8
9
10
11
81ZBC Assessment of conditions for section 81ZBB
1
2
3
4
5
6
7
8
9
10
81BA Bail-in option
1
2
2A
3
4
5
6
7
81BB Bail-in option: supplemental powers in relation to certain holding companies
1
2
3
4
5
6
7
8
81BC Assessment of conditions for section 81BB
1
2
3
4
5
6
7
8
9
10
81C Sections 81AA to 81ZBB: supplemental
1
1A
1AA
1B
2
3
81CA Section 81BA and Section 81BB: supplemental
1
2
3
4
5
6
7
81D Interpretation: “banking group company” &c.
1
2
3
4
5
6
7
82 Temporary public ownership
1
2
3
4
5
6
83 Supplemental
1
2
3
4
5
6
83ZA Information
1
2
3
4
5
6
7
8
9
10
11
83ZB Reports by skilled persons
1
2
3
4
5
6
7
8
9
10
83ZC Appointment of persons to carry out general investigations
1
2
3
4
5
83ZD Appointment of person to carry out investigations in particular cases
1
2
3
83ZE Investigations etc in support of foreign resolution authorities
1
2
3
4
5
6
7
8
9
10
11
83ZF Investigations: general
1
2
3
4
5
6
7
8
9
83ZG Powers of persons appointed under section 83ZC
1
2
3
4
5
6
83ZH Powers of persons appointed as a result of section 83ZD
1
2
3
4
5
6
83ZI Admissibility of statements made to investigators
1
2
3
4
83ZJ Information and documents: supplemental provision
1
2
3
4
5
6
7
8
9
83ZK Protected items
1
2
3
4
83ZL Entry of premises under warrant
1
2
3
4
5
6
7
8
9
10
11
12
13
83ZM Retention of documents obtained under section 83ZL
1
2
3
4
5
83ZN Offences etc
1
2
3
4
5
6
7
8
9
10
11
83ZO Prosecution of offences under section 83ZN
1
2
3
83ZP Offences under section 83ZN by bodies corporate etc
1
2
3
4
5
6
83ZQ Injunctions: prevent failure to comply with relevant requirement
1
2
3
83ZR Regulatory sanctions
1
2
3
4
5
83ZS Determination of sanctions
83ZT Procedure: warning notice
1
2
3
4
83ZU Procedure: decision notice
1
2
3
4
5
6
7
83ZV Procedure: general
1
2
3
4
83ZW Appeal
1
2
83ZX Injunctions: failure to comply with certain section 83ZR sanctions
1
2
3
4
5
6
83ZY Publication
1
2
3
4
5
6
7
8
9
10
11
83ZZ Co-operation
83Z1 Delegation of enforcement functions
1
2
3
83Z2 Enforcement: share transfer orders
1
2
3
83A Modifications of Part
1
2
84 Application of Part 1: general
84ZA Bridge bank: share transfer instruments
1
2
3
4
84A Bail-in option: building societies
1
2
3
4
5
6
7
8
9
10
11
12
84B Further provision: conversion of building society into company
1
2
3
4
5
6
7
8
84C Further provision: transfer of business of building society to company
1
2
3
84D Transfer to a bridge bank or Bail-in option: modifications of this Act and other legislation
A1
1
2
3
4
5
5A
6
7
8
85 Temporary public ownership
1
2
3
4
5
6
7
8
86 Distribution of assets on dissolution or winding up
1
2
3
4
87 Interpretation
1
2
88 Consequential provision
1
2
3
89 Credit unions
1
2
3
4
5
89A Application to investment firms
1
2
3
89B Application to recognised central counterparties
89C Recognised central counterparty rules
89D Recognised central counterparty membership
89E Recognition of transferee company
89F Recognised central counterparty compensation orders
89G Interpretation: “recognised central counterparty” &c.
89H Recognition of third-country resolution actions
1
2
3
4
5
6
7
89I Effect of recognition of third-country resolution action by Bank of England
1
2
3
4
5
6
7
8
9
9A
10
89J Third-country instruments: supplementary provision
1
2
3
4
5
89JA Resolution of UK branches of third-country institutions
1
2
3
4
5
6
7
8
9
10
11
89K Insolvency Proceedings
1
2
3
89L Restrictions on disclosure of confidential information
1
2
3
4
89M Giving of notices, documents etc under Part 1
90 Overview
1
2
3
91 Interpretation: “bank”
1
2
3
4
5
6
92 Interpretation: “the court”
93 Interpretation: other expressions
1
2
3
4
5
6
7
8
94 The order
1
2
3
4
95 Application
1
2
3
96 Grounds for applying
1
2
3
4
5
97 Grounds for making
1
2
3
98 Commencement
1
2
3
4
99 Objectives
1
2
3
4
100 Liquidation committee
1
2
3
4
5
6
7
101 Liquidation committee: supplemental
1
2
3
4
5
6
7
8
9
102 Objective 1: (a) or (b)?
1
2
3
4
103 General powers, duties and effect
1
2
3
4
5
6
7
104 Additional general powers
1
2
3
4
105 Status of bank liquidator
106 Term of appointment
107 Resignation
1
2
3
108 Removal by court
1
2
3
4
109 Removal by creditors
1
2
3
4
5
110 Disqualification
1
2
111 Release
112 Replacement
1
2
113 Company voluntary arrangement
1
2
3
4
5
6
7
8
9
114 Administration
1
2
3
4
5
115 Dissolution
1
2
3
4
5
6
7
8
116 Dissolution: supplemental
1
2
3
4
5
6
7
117 Bank insolvency as alternative order
1
2
118 Voluntary winding-up
119 Exclusion of other procedures
1
2
3
120 Notice to PRA of preliminary steps
1
2
3
4
5
6
7
8
8A
9
10
11
120A Notice to the regulators and the Bank of England of preliminary steps
1
2
3
121 Disqualification of directors
1
2
3
4
122 Application of insolvency law
1
2
123 Role of FSCS
1
2
3
4
5
6
7
124 Transfer of accounts
1
2
3
4
125 Rules
1
2
3
4
5
6
7
8
126 Fees
8A
127 Insolvency Services Account
128 Evidence
129 Co-operation between courts
1
2
129A Banks not regulated by PRA
1
2
130 Building societies
1
2
3
4
131 Credit unions
1
2
3
4
132 Partnerships
1
2
3
133 Scottish partnerships
1
2
134 Northern Ireland
135 Consequential provision
1
2
3
136 Overview
1
2
3
137 Objectives
1
2
138 Objective 1: supporting private sector purchaser or resolution company
1
2
3
4
5
139 Objective 1: duration
1
2
3
4
140 Objective 2: “normal” administration
1
2
3
141 Bank administration order
1
2
3
4
142 Application
1
2
3
143 Grounds for applying
1
2
3
144 Grounds for making
1
2
145 General powers, duties and effect
1
2
3
4
5
6
7
145A Power to direct bank administrator
146 Status of bank administrator
147 Administrator's proposals
1
2
3
4
5
6
7
8
148 Sharing information
1
2
3
4
5
6
149 General application of this Part
1
2
3
4
150 Resolution company to private purchaser
1
2
3
4
5
151 Property transfer from resolution company
1
2
3
4
5
6
152 Property transfer from temporary public ownership
1
2
3
152A Property transfer from transferred institution
1
1A
2
3
153 Successful rescue
1
2
3
4
154 Winding-up or voluntary arrangement
1
2
2A
3
3A
4
5
6
7
155 Disqualification of directors
1
2
3
4
156 Application of other law
1
2
157 Other processes
1
2
157A Banks not regulated by PRA
1
2
158 Building societies
1
2
3
4
159 Credit unions
1
2
3
4
159A Application to investment firms
160 Rules
1
2
3
4
5
6
161 Fees
8B
162 Evidence
163 Partnerships
1
2
3
164 Scottish partnerships
1
2
165 Co-operation between courts
1
2
166 Interpretation: general
1
2
3
4
5
6
167 Northern Ireland
168 Consequential provision
1
2
3
169 Overview
170 Contingency funding
1
2
3
171 Special resolution regime
172 Investing in National Loans Fund
1
2
3
4
5
173 Borrowing from National Loans Fund
1
2
3
4
5
174 Procedure for claims
1
2
175 Rights in insolvency
1
2
3
4
176 Information
1
2
3
4
5
6
7
8
9
177 Payments in error
1
2
178 Regulations
179 Delegation of functions
1
2
180 Functions under this Act
181 Overview
182 Interpretation: ... key terms
1
1A
2
3
4
4A
4B
5
5A
5B
5C
183 Interpretation: other expressions
184 Recognition order : payment system
1
2
3
4
184A Recognition order: DSA service provider
1
2
3
185 Recognition criteria : payment system
1
2
185A Recognition criteria: DSA service provider
1
2
186 Procedure
1
2
3
186A Amendment of recognition order
1
2
2A
3
4
187 De-recognition
1
2
3
4
5
188 Principles
1
2
189 Codes of practice
190 System rules
1
2
190A Service provider rules
1
2
191 Directions
1
2
3
4
5
6
7
192 Role of FCA and PRA
1
2
3
192A Power of Bank to require FCA to refrain from specified action
1
2
3
4
5
6
7
193 Inspection
1
2
194 Inspection: warrant
1
2
3
4
5
6
7
8
9
195 Independent report
1
2
3
196 Compliance failure
197 Publication
1
2
198 Penalty
1
2
3
4
199 Closure
1
2
3
3A
4
5
200 Management disqualification
1
2
2A
3
4
201 Warning
1
1A
2
3
202 Appeal
1
2
3
202A Injunctions
1
2
3
4
5
203 Fees
1
2
3
4
203A Records
1
2
203B Annual report
1
2
3
203C Policy statement
1
2
3
4
204 Information
1
1A
2
3
4
5
6
7
8
9
10
11
205 Pretending to be recognised
1
1A
2
206 Saving for informal oversight
1
2
206A Service providers
1
2
2A
2B
3
3A
4
5
6
7
8
206AA Service providers connected with a recognised payment system that uses digital settlement assets
206B International obligations
1
2
3
206C Overview and purpose
1
2
206D Policy statement
1
2
3
4
5
206E Interpretation: “wholesale cash distribution”
1
2
206F Interpretation: other terms
1
2
206G Wholesale cash oversight orders
1
2
3
4
5
206H “Market significance” and “systemic significance”
1
2
3
4
5
6
206I Procedure
1
2
3
4
206J Amendment or revocation of a wholesale cash oversight order
1
2
3
4
5
206K Principles
1
2
3
206L Codes of practice
1
2
3
206M Directions
1
2
3
4
5
6
7
8
9
206N Role of the FCA, PRA and Payment Systems Regulator
1
2
3
4
206O Inspection
1
2
206P Inspection: warrant
1
2
3
4
5
6
7
8
9
206Q Independent report
1
2
3
206R Compliance failure
206S Publication
206T Penalty
1
2
3
4
206U Closure
1
2
3
4
5
6
206V Management disqualification
1
2
3
4
206W Warning
1
2
3
206X Appeal
1
2
3
206Y Injunctions
1
2
3
4
5
206Z Fees
1
2
3
4
206Z1 Records
206Z2 Annual report
1
2
3
4
206Z3 Requirement to provide information
1
2
3
4
5
6
7
206Z4 Disclosure of information
1
2
3
4
5
206Z5 Saving for informal oversight
1
206Z6 Power to disapply regulation and enforcement provisions
1
2
3
4
5
207 Overview
208 “Banknote”
209 “Issue”
1
2
3
210 “Authorised bank”
211 “Commencement”
212 Repeal of old authorising enactments
213 Authorisation to issue banknotes
1
2
214 Consequential repeals and amendments
1
2
3
214A Power to designate banks as “authorised banks”
1
2
3
4
5
6
7
8
9
10
215 Banknote regulations
1
2
216 Banknote rules
1
2
3
217 Backing assets
1
2
3
4
5
6
218 Information
1
2
3
4
219 Ceasing the business of issuing notes
1
2
220 Insolvency, &c.
1
2
3
4
4A
5
6
7
221 Offence: unlawful issue
1
2
3
4
5
6
222 Financial penalty
1
2
3
223 Termination of right to issue
1
2
3
4
5
6
7
224 Application to court
225 Organisation
226 Discretionary functions
1
2
3
227 Exemption
228 Consolidated Fund
1
2
3
4
5
6
7
229 National Loans Fund
1
2
3
4
5
6
7
230 “Financial institution”
1
2
231 Reports
1
2
3
4
5
232 Definition
1
2
2A
3
4
5
5A
5B
6
7
233 Insolvency regulations
1
2
3
4
234 Regulations: details
1
2
3
4
5
6
7
8
9
10
11
235 Regulations: procedure
1
2
3
4
5
6
236 Review
1
2
3
4
5
6
7
237 Compensation: valuer
238 UK financial stability
1
2
239 Number of directors
1
2
3
4
240 Meetings
1
2
3
241 Chair of court
1
2
242 Quorum
1
2
3
243 Tenure
1
2
3
4
244 Immunity
1
2
2A
3
245 Weekly return
246 Information
1
2
3
247 Bank of England Act 1946
248 Variation of permission
249 Functions
1
2
3
4
250 Information
1
2
251 Financial assistance to building societies
1
2
3
4
5
6
7
8
252 Registration of charges
1
2
253 Registration of charges: Scotland
1
2
3
4
5
6
7
254 Abolition for cheques
1
2
3
4
5
255 Regulations
1
2
3
4
5
6
7
8
256 Supplemental
256A State aid
256B Bank of England” and “Prudential Regulation Authority”
1
2
257 “Financial assistance”
1
2
3
258 “Enactment”
258A Investment firm”
1
2
3
4
5
6
259 Statutory instruments
1
2
3
4
5
6
260 Money
261 Index of defined terms
262 Repeal
1
2
3
263 Commencement
1
2
3
4
264 Extent
1
2
265 Short title