Section 52A Bail-in optionF1

(1)

Subsection (2) applies if the Bank of England makes—

(a)

a resolution instrument under section 12A(2), or

(b)

a property transfer instrument under section 41A(2).

(2)

The Treasury must make a bail-in compensation order (see section 49(2A)).

(3)

A bail-in compensation order may include provision for—

(a)

an independent valuer (in which case sections 54 to 56 are to apply);

(b)

valuation principles (in which case section 57(2) to (5) is to apply).

Annotations

F1: S. 52A inserted (31.12.2014) by Financial Services (Banking Reform) Act 2013 (c. 33), s. 148(5), Sch. 2 para. 6(3); S.I. 2014/3160, art. 2(1)(b)

C1: Pt. 1 restricted (7.1.2010) by Banking Act 2009 (Exclusion of Insurers) Order 2010 (S.I. 2010/35), arts. 1, 2
C2: Pt. 1: power to amend conferred (1.3.2014) by Financial Services (Banking Reform) Act 2013 (c. 33), ss. 17(3)(f), 148(5); S.I. 2014/377, art. 2(1)(b), Sch. Pt. 2

F1: Pt. 1 Ch. 3 formed from ss. 4-83 (1.1.2015) by The Bank Recovery and Resolution Order 2014 (S.I. 2014/3329), arts. 1(2), 7