Paragraph 17 Interpretation

In this Schedule—

• “bridge bank” is a company wholly owned by the Bank of England to which all or part of the business of an F1investment bank may be transferred in accordance with section 12 of the Act;

• “residual bank” means the non-sold or non-transferred part of the investment bank which remains after a power in section 11 (sale to private sector purchaser) or section 12 (transfer to bridge bank) of the Act has been exercised in respect of that bank;

• “Objective A” has the meaning set out in paragraph 3(1)(a);

• “Objective A Achievement Notice” has the meaning set out in paragraph 3(3);

• “private sector purchaser” means a commercial purchaser to whom part of the business of the investment bank is sold to in accordance with section 11 of the Act; and

• “statement” means the statement of proposals drawn up in accordance with paragraph 7.