# Banking Act 2009, Section 79: Public funds: resolution company

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

(1) This section applies where the Bank of England has transferred all or part of a bank's business to a resolution company.
(2) The Bank of England may not take action in respect of the resolution company without the Treasury's consent if the action would be likely to have implications for public funds.
(3) Section 78(2) and (3) have effect for the purposes of this section.

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Source: https://www.legislation.gov.uk/ukpga/2009/1/section/79 (the official version)
Page: https://openlegislation.uk/banking-act-2009/section-79
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.