Section 80 Resolution company: reportF2I1
United Kingdom
Where the Bank of England transfers all or part of a bank's business to a F1resolution company, the Bank must report to the Chancellor of the Exchequer about the activities of the resolution company.
The first report must be made as soon as is reasonably practicable after the end of one year beginning with the date of the first transfer to the resolution company.
A report must be made as soon as is reasonably practicable after the end of each subsequent year.
The Chancellor of the Exchequer must lay a copy of each report under subsection (2) or (3) before Parliament.
The Bank must comply with any request of the Treasury for a report dealing with specified matters in relation to a resolution company.
A request under subsection (5) may include provision about—
the content of the report;
timing.
Annotations
Textual amendments
- F1
Words in s. 80 substituted (1.1.2015) by The Bank Recovery and Resolution Order 2014 (S.I. 2014/3329), arts. 1(2), 87(1)
- F2
Words in s. 80 heading substituted (1.1.2015) by The Bank Recovery and Resolution Order 2014 (S.I. 2014/3329), arts. 1(2), 87(2)
Commencement
- I1
S. 80 in force at 21.2.2009 by S.I. 2009/296, art. 3, Sch. para. 1
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