Section 79A Private sector purchaser: reportF1
This section applies where the Bank of England sells all or part of a bank's business to a commercial purchaser.
The Bank must report to the Chancellor of the Exchequer about the exercise of the power to make share transfer instruments and property transfer instruments under section 11(2).
The report must comply with any requirements as to content specified by the Treasury.
The report must be made as soon as is reasonably practicable after the end of one year beginning with the date of the first transfer instrument made under section 11(2).
Annotations
Textual amendments
- F1
S. 79A inserted (1.1.2015) by Financial Services Act 2012 (c. 21), ss. 99(1), 122(3) (with Sch. 20); S.I. 2014/3323, art. 2
Notes on Part 1
Modifications
- 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
Notes on Chapter 3
Textual amendments
- 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