{
  "url": "https://openlegislation.uk/bank-recovery-and-resolution-no-2-order-2014/article-122",
  "json_url": "https://openlegislation.uk/bank-recovery-and-resolution-no-2-order-2014/article-122.json",
  "legislation": "uksi/2014/3348",
  "legislation_title": "The Bank Recovery and Resolution (No. 2) Order 2014",
  "legislation_url": "https://openlegislation.uk/bank-recovery-and-resolution-no-2-order-2014",
  "path": "article/122",
  "kind": "article",
  "number": "122",
  "heading": "Duties of the Bank in relation to minimum requirement",
  "text": "(1) The Bank must exercise the powers conferred by section 3A of the Banking Act 2009 (removal of impediments to the exercise of stabilisation powers etc)—\n(a) to ensure that a relevant institution is required at all times to maintain a minimum requirement for own funds and eligible liabilities ...; and\n(b) with the object of ensuring that at all times the institution meets the minimum requirement specified in a direction given for that purpose.\n(2) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .",
  "extent": "E+W+S+N.I.",
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "F",
      "label": "F1",
      "text": "Words in art. 122(1)(a) omitted (28.12.2020) by virtue of The Bank Recovery and Resolution (Amendment) (EU Exit) Regulations 2020 (S.I. 2020/1350), regs. 1(2), 45"
    },
    {
      "type": "F",
      "label": "F2",
      "text": "Art. 122(2) omitted (31.12.2020) by virtue of The Bank Recovery and Resolution and Miscellaneous Provisions (Amendment) (EU Exit) Regulations 2018 (S.I. 2018/1394), reg. 1(2), Sch. 3 para. 67; 2020 c. 1, Sch. 5 para. 1(1)"
    },
    {
      "type": "M",
      "label": "M1",
      "text": "Section 3A was inserted by S.I. 2014/3329."
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/uksi/2014/3348/article/122",
    "retrieved_at": "2026-10-28T23:53:03.627932+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}