# The Bank Recovery and Resolution (No. 2) Order 2014, Article 185: Stay of legal proceedings


(1) Where—
(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”),
(b) the institution under resolution is a party to legal proceedings before any court in the United Kingdom, and
(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,
the Bank may apply to that court for a stay of the proceedings.
(2) In this article—
“bank” has the meaning given by section 2 of the Banking Act 2009 ;
“banking group company” has the meaning given in section 81D of the Banking Act 2009 ;
“building society” has the meaning given in section 119 of the Building Societies Act 1986;
“mandatory reduction instrument” has the meaning given in section 6B(1) of the Banking Act 2009 ; and
“stabilisation powers” has the meaning given in section 1(4) of the Banking Act 2009 .

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Source: https://www.legislation.gov.uk/uksi/2014/3348/article/185 (the official version)
Page: https://openlegislation.uk/bank-recovery-and-resolution-no-2-order-2014/article-185
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.