{
  "url": "https://openlegislation.uk/bank-recovery-and-resolution-no-2-order-2014/article-185",
  "json_url": "https://openlegislation.uk/bank-recovery-and-resolution-no-2-order-2014/article-185.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/185",
  "kind": "article",
  "number": "185",
  "heading": "Stay of legal proceedings",
  "text": "(1) Where—\n(a) the Bank has made a mandatory reduction instrument or exercised a stabilisation power in relation to any bank, building society, investment firm or banking group company (“institution under resolution”),\n(b) the institution under resolution is a party to legal proceedings before any court in the United Kingdom, and\n(c) the Bank reasonably considers that a stay of those proceedings is necessary for an effective application of the resolution tools or the stabilisation powers,\nthe Bank may apply to that court for a stay of the proceedings.\n(2) In this article—\n“bank” has the meaning given by section 2 of the Banking Act 2009 ;\n“banking group company” has the meaning given in section 81D of the Banking Act 2009 ;\n“building society” has the meaning given in section 119 of the Building Societies Act 1986;\n“mandatory reduction instrument” has the meaning given in section 6B(1) of the Banking Act 2009 ; and\n“stabilisation powers” has the meaning given in section 1(4) of the Banking Act 2009 .",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "M",
      "label": "M1",
      "text": "Section 2 was amended by the Financial Services Act 2012, sections 101(1) and (3) and 102(1) and (3) and Schedule 17, paragraph 3, and by S.I. 2011/2832."
    },
    {
      "type": "M",
      "label": "M2",
      "text": "Section 81D was inserted by the Financial Services Act 2012, section 100(5); and was amended by the Financial Services (Banking Reform) Act 2013, Schedule 2, paragraphs 1 and 7(3), and by S.I. 2014/3329."
    },
    {
      "type": "M",
      "label": "M3",
      "text": "Section 6B was inserted by S.I. 2014/3329."
    },
    {
      "type": "M",
      "label": "M4",
      "text": "Section 1(4) was substituted by the Financial Services (Banking Reform) Act 2013, Schedule 2, paragraphs 1 and 12(1) and (4); and was amended by S.I. 2014/3329."
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/uksi/2014/3348/article/185",
    "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."
}