# Banking (Special Provisions) Act 2008, Paragraph 7


(1) An order under section 3 may make provision enabling the Treasury—
(a) to remove or appoint directors of the relevant deposit-taker or any of its group undertakings;
(b) to determine, by agreement with persons so appointed by the Treasury, their remuneration and the other terms and conditions of their service contracts;
(c) to terminate, or vary the terms and conditions of, the service contracts of persons who (however appointed) are directors of the relevant deposit-taker or any of its group undertakings.
(2) An order under section 3 may provide for anything done by the Treasury in accordance with provision made by virtue of sub-paragraph (1) to be treated as done by the relevant deposit-taker.
(3) In this paragraph “service contract” has the meaning given by section 227 of the Companies Act 2006 (c. 46).

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Source: https://www.legislation.gov.uk/ukpga/2008/2/schedule/1/paragraph/7 (the official version)
Page: https://openlegislation.uk/banking-special-provisions-act-2008/schedule-1/paragraph-7
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.