{
  "url": "https://openlegislation.uk/banking-act-2009/section-48WA",
  "json_url": "https://openlegislation.uk/banking-act-2009/section-48WA.json",
  "legislation": "ukpga/2009/1",
  "legislation_title": "Banking Act 2009",
  "legislation_url": "https://openlegislation.uk/banking-act-2009",
  "path": "section/48WA",
  "kind": "section",
  "number": "48WA",
  "heading": "Bail-in option: recovery of expenses",
  "text": "(1) The Bank of England may, in relation to the exercise of the bail-in option, direct a relevant bank to pay the Bank of England a fee to cover expenses reasonably incurred by the Bank in connection with exercising that option.\n(2) The Treasury may direct a relevant bank to pay the Treasury a fee to cover expenses reasonably incurred by the Treasury in connection with the exercise by the Bank of England of the bail-in option in relation to the relevant bank.\n(3) For the purposes of this section—\n(a) a “relevant bank” is a bank in relation to which the Bank of England has made—\n(i) a resolution instrument under section 12A(2),\n(ii) a supplemental resolution instrument under section 48U(2), or\n(iii) an instrument containing special bail-in provision under section 48B,\n(b) the exercise of the bail-in option includes making any instrument containing special bail-in provision under section 48B.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "F",
      "label": "F1",
      "text": "S. 48WA inserted (16.12.2016) by The Bank Recovery and Resolution Order 2016 (S.I. 2016/1239), arts. 1(2), 14"
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukpga/2009/1/section/48WA",
    "retrieved_at": "2026-10-29T09:11:28.246347+00:00",
    "licence": "OGL-UK-3.0",
    "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."
  }
}