{
  "url": "https://openlegislation.uk/draft-bank-recovery-and-resolution-order-2016/article-14",
  "json_url": "https://openlegislation.uk/draft-bank-recovery-and-resolution-order-2016/article-14.json",
  "legislation": "ukdsi/2016/9780111151099",
  "legislation_title": "The Bank Recovery and Resolution Order 2016",
  "legislation_url": "https://openlegislation.uk/draft-bank-recovery-and-resolution-order-2016",
  "path": "article/14",
  "kind": "article",
  "number": "14",
  "heading": "Recovery of expenses",
  "text": "After section 48W (reverse transfer), insert—\n“Bail-in option: recovery of expenses\n48WA. (1) The Bank of England may, in relation to the exercise of the bail-in option, direct a relevant bank to pay the Bank of England a fee to cover expenses reasonably incurred by the Bank in connection with exercising that option.\n(2) The Treasury may direct a relevant bank to pay the Treasury a fee to cover expenses reasonably incurred by the Treasury in connection with the exercise by the Bank of England of the bail-in option in relation to the relevant bank.\n(3) For the purposes of this section—\n(a) a “relevant bank” is a bank in relation to which the Bank of England has made—\n(i) a resolution instrument under section 12A(2),\n(ii) a supplemental resolution instrument under section 48U(2), or\n(iii) an instrument containing special bail-in provision under section 48B,\n(b) the exercise of the bail-in option includes making any instrument containing special bail-in provision under section 48B.”.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukdsi/2016/9780111151099/article/14",
    "retrieved_at": "2026-10-30T15:07:34.989466+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "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."
}