# The Bank Recovery and Resolution (No. 2) Order 2014, Article 156: Removal of impediments to the conversion of liabilities into shares


Where the articles or memorandum of association of a UK entity which is a company confer pre-emption rights on shareholders, require the consent of shareholders to an increase in capital or make any other provision which could prevent or otherwise impede the conversion of any liabilities of the company into shares or other instruments of ownership, the Bank must determine whether it is necessary to require the entity to alter the articles or memorandum with the object of removing the impediment created by the provision concerned.

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Source: https://www.legislation.gov.uk/uksi/2014/3348/article/156 (the official version)
Page: https://openlegislation.uk/bank-recovery-and-resolution-no-2-order-2014/article-156
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.