{
  "url": "https://openlegislation.uk/banking-act-2009/section-8",
  "json_url": "https://openlegislation.uk/banking-act-2009/section-8.json",
  "legislation": "ukpga/2009/1",
  "legislation_title": "Banking Act 2009",
  "legislation_url": "https://openlegislation.uk/banking-act-2009",
  "path": "section/8",
  "kind": "section",
  "number": "8",
  "heading": "Specific Condition: private sector purchaser, bridge bank or asset management vehicle",
  "text": "(1) In a financial assistance case, the Bank may exercise a stabilisation power in respect of the bank concerned in accordance with section 11(2), 12(2) or 12ZA(3) only with the approval of the Treasury.\n(2) “Financial assistance case” means a case where the Treasury notify the Bank of England that they have provided financial assistance in respect of a bank for the purpose of resolving or reducing a serious threat to the stability of the financial systems of the United Kingdom.\n(3) The condition in this section is in addition to the conditions in sections 7 and 8ZA.",
  "extent": "E+W+S+N.I.",
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "F",
      "label": "F1",
      "text": "S. 8 substituted (1.1.2015) by The Bank Recovery and Resolution Order 2014 (S.I. 2014/3329), arts. 1(2), 14"
    }
  ],
  "outstanding_effects": [
    {
      "type": "inserted",
      "affecting": "ukpga/2012/21",
      "affecting_title": "Financial Services Act 2012"
    },
    {
      "type": "words substituted",
      "affecting": "ukpga/2012/21",
      "affecting_title": "Financial Services Act 2012"
    }
  ],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukpga/2009/1/section/8",
    "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."
  }
}