[48Z Termination rights etc]
Banking Act 2009 (2009 c 1) | Legislation

[Termination rights etc]

[48Z  Termination rights etc]

[(1)     In this section—

“crisis management measure” has the meaning given in Article 2.1(102) of the recovery and resolution directive, and accordingly in relation to the United Kingdom means—

(a)     the exercise of a stabilisation power in relation to the bank by the Bank of England or the Treasury,

(b)     the appointment of a resolution administrator under section 62B,

(c)     the recognition by the Bank of England of third-country resolution action (or part of such action) in accordance with Chapter 5 of this Part, or

(d)     the exercise by the Bank of a stabilisation power by virtue of section 89I(3) (exercise of powers in support of third-country resolution action);

“crisis prevention measure” . . .means—

(a)     the imposition by the PRA or the FCA [under the Bank Recovery and Resolution (No 2) Order 2014 (SI 2014/3348) of a requirement to take relevant measures as described in article 15, 16, or 23 of that Order,]

(b)     the imposition by the Bank of England of a requirement to take measures to remove impediments to resolvability under [section 3A,]

[(c)     the taking by the FCA or the PRA of a measure for early intervention under

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