Banking Act 2009: Elizabeth II -, Part 1

Front Cover
The Stationery Office, 2009 - Business & Economics - 137 pages
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The purpose of the special resolution regime for banks is to address the situation where all or part of the business of a bank has encountered, or is likely to encounter, financial difficulties.
 

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Contents

Banking Act
1
Incidental functions
2
PART
4
Bridge bank
7
Share transfer order
8
Effect 18 Continuity 19 Conversion and delisting 20 Directors
9
production registration
10
Incidental provision
11
a or b?
54
General powers duties and effect
55
Additional general powers
58
Sou rces of compensation
61
Procedure
62
Removal by creditors 110 Disqualification 111 Release
63
Replacement Termination of process
64
Dissolution
65

instruments 25 Procedure orders 26 Supplemental instruments
12
Supplemental orders
13
Onward transfer 29 Reverse share transfer
14
Share transfer instrument
15
general Transfer of property 33 Property transfer instrument
16
Effect 35 Transferable property
17
Continuity 37 Licences
18
Termination rights
19
Foreign property 40 Incidental provision 41 Procedure
20
Supplemental instruments 43 Onward transfer
21
Reverse property transfer
22
property transfer 46 Temporary public ownership reverse property transfer
23
Restriction of partial transfers
24
Power to protect certain interests
25
Orders 50 Sale to private sector purchaser 51 Transfer to temporary public ownership
26
Transfer to bridge bank 5? Onward and reverse transfers 54 Independent valuer
27
supplemental
28
money 57 Valuation principles
29
Resolution fund
30
discretionary provision 60 Third party compensation mandatory provision
31
property transfers 64 Special continuity obligations property transfers
33
onward property transfers
34
share transfers
35
share transfers 68 Continuity obligations onward share transfers
36
consideration and terms 70 Continuity obligations termination
37
Pensions 72 Enforcement
38
Disputes 74
39
Power to change law Treasury
40
general 77 International obligation notice bridge bank
41
general 79 Public funds bridge bank 80 Bridge bank report
42
report Holding companies 82 Temporary public ownership 83 Supplemental
43
Building societies
45
Distribution of assets on dissolution or winding up 87 Interpretation 88 Consequential provision
47
Credit unions PART 2
48
bank 92 Interpretation the court 93 Interpretation other expressions
49
Bank insolvency order 94 The order 95 Application 96 Grounds for applying
50
Grounds for making 98 Commencement
51
Process of bank liquidation 99 Objectives
52
supplemental
53
supplemental Other processes 117 Bank insolvency as alternative order 118 Voluntary windingup
66
Exclusion of other procedures 120 Notice to FSA of preliminary steps
67
Disqualification of directors 122 Application of insolvency
68
RokofFSCS 124 Transfer of accounts
69
Rules 126 Fees
70
Insolvency Services Account 128 Evidence 129 Cooperation between courts 130 Building societies
71
PARTS BANK ADMINISTRATION Introduction 136 Overview
73
supporting private sector purchaser or bridge bank
74
duration 140 Objective 2 normal administration
75
Bank administration order 142 Application 143 Grounds for applying 144 Grounds for making
76
General powers duties and effect
77
Status of bank administrator
84
Administrators proposals 148 Sharing information
85
Multiple transfers 149 General application of this Part 150 Bridge bank to private purchaser
86
Property transfer from bridge bank 152 Property transfer from temporary public ownership
87
Successful rescue 154 Windingup or voluntary arrangement
88
Disqualification of directors 156 Application of other law 157 Other processes
89
Building societies 159 Credit unions 160 Rules
90
Fees 162 Evidence 163 Partnerships
91
general
92
Contingency funding
93
Special resolution regime
94
Investing in National Loans Fund 17? Borrowing from National Loans Fund
96
Procedure for claims 175 Rights in insolvency 176 Information
97
Payments in error 178 Regulations 179 Delegation of functions
99
interbank payment system 183 Interpretation other expressions
100
Recognised systems 184 Recognition order 185 Recognition criteria 186 Procedure
101
Derecognition Regulation 188 Principles 189 Codes of practice 190 System rules
102
Directions 192 Role of FSA Enforcement 193 Inspection
103
warrant 195 Independent report
104
Compliance failure 197 Publication 198 Penalty
105
Closure 200 Management disqualification 201 Warning
106
Appeal
107
Northern Ireland
109
Consequential provision
127
Credit unions
131
Partnerships
132
Scottish partnerships 134 Northern Ireland
133
Consequential provision
135

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