# Banking Act 2009, Section 13: Temporary public ownership

Extent: E+W+S+N.I.

(1) The fifth stabilisation option is to take the bank into temporary public ownership.
(2) For that purpose the Treasury may make one or more share transfer orders in which the transferee is—
(a) a nominee of the Treasury, or
(b) a company wholly owned by the Treasury.
(3) The code of practice under section 5 must include provision about the management of banks taken into temporary public ownership under this section.

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Source: https://www.legislation.gov.uk/ukpga/2009/1/section/13 (the official version)
Page: https://openlegislation.uk/banking-act-2009/section-13
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.