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Article 2 Determination of amount of compensation

Original text. Later amendments are not shown.

The amount of compensation payable by the Treasury to persons who held shares in Silicon Valley Bank UK Limited immediately before those shares were transferred by the Silicon Valley Bank UK Limited Mandatory Reduction and Share Transfer Instrument 2023f1 is determined as nil.

Annotations

Footnotes

f1

The Silicon Valley Bank UK Limited Mandatory Reduction and Share Transfer Instrument 2023 was made on 13th March 2023 by the Bank of England in exercise of the powers conferred on it by sections 6B, 11(2), 15, 17, 18, 20, 21, 23, 48L, 48N, 48O, 48Q, 48S and 66 of the Banking Act 2009. The instrument is available on the Bank of England’s website at www.bankofengland.co.uk, and it can also be obtained from HM Treasury, 1 Horse Guards Road, London SW1A 2HQ.