[81C Sections 81AA to 81ZBB: supplemental]
Banking Act 2009 (2009 c 1) | Legislation

[81C  Sections 81AA to 81ZBB: supplemental]

[(1)     In the following provisions references to banks include references to banking group companies—

(a)     section 10(1), . . .

[(aa)     section 48Z, and]

(b)     section 75(5)(a).

[(1A)     Where section 6B applies to a banking group company by virtue of section 81AA, sections 6B to 6D apply with the following modifications—

(a)     references to the bank are to be read as references to the banking group company,

[(aa)     where Case 4 in section 81AA applies, section 6B(2) is to be read as providing that “the mandatory reduction provision” is provision which, together with the mandatory reduction provision made in respect of any other subsidiary of the resolution entity that is in the same resolution group as the banking group company, produces

Powered by Lexis+®
 

Popular documents

LEXISNEXIS

False imprisonment

False imprisonmentLiabilityFalse imprisonment consists of the complete deprivation of liberty without a lawful basis. Claims will in practice be made against a public body that exercises detention powers, usually a local police force, the Secretary of State for the Home Department or the Secretary

LEXISNEXIS

Grounds of appeal—introducing new evidence

Grounds of appeal—introducing new evidenceCoronavirus (COVID-19): The guidance detailing normal practice set out in this Practice Note may be affected by measures concerning process and procedure in the civil courts that have been introduced as a result of the coronavirus (COVID-19) pandemic. The

LEXISNEXIS

Debt for equity swaps

Debt for equity swapsA popular restructuring method is a debt for equity swap; financial creditors receive equity in the restructured vehicle in return for reducing or cancelling their debt claims against the company (and the rest of the group).Many highly levered deals have thin equity cushions and

LEXISNEXIS

Negligence—key elements to establish a negligence claim

Negligence—key elements to establish a negligence claimNegligence—what are the key ingredients to establish a claim in negligence?For liability in negligence to be founded, four key ingredients must be present:•duty of care•breach of that duty•damage (which is caused by the breach)•foreseeability of