12 Bridge bank
Banking Act 2009 (2009 c 1) | Legislation

12  Bridge bank

(1)     The second stabilisation option is to transfer all or part of the business of the bank to a company which [meets the requirements of subsection (1A)] (a “bridge bank”).

[(1A)     Those requirements are that the company—

(a)     is wholly or partially owned by the Bank of England,

(b)     is controlled by the Bank, and

(c)     is created for the purposes of receiving a transfer by virtue of this section with a view to maintaining access to critical functions and (in due course) selling the bank or its business.

(2)     For the purpose of subsection (1) the Bank of England may make—

(a)

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