# The Bank Recovery and Resolution Order 2016, Article 14: Recovery of expenses


After section 48W (reverse transfer), insert—
“Bail-in option: recovery of expenses
48WA. (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.
(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.
(3) For the purposes of this section—
(a) a “relevant bank” is a bank in relation to which the Bank of England has made—
(i) a resolution instrument under section 12A(2),
(ii) a supplemental resolution instrument under section 48U(2), or
(iii) an instrument containing special bail-in provision under section 48B,
(b) the exercise of the bail-in option includes making any instrument containing special bail-in provision under section 48B.”.

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Source: https://www.legislation.gov.uk/ukdsi/2016/9780111151099/article/14 (the official version)
Page: https://openlegislation.uk/draft-bank-recovery-and-resolution-order-2016/article-14
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.