Part 1 Amendments of Banking Act 2009
Financial Services (Banking Reform) Act 2013 (2013 c 33) | Legislation

SCHEDULE 2 Bail-in Stabilisation Option

Section 17

Part 1 Amendments of Banking Act 2009

1

The Banking Act 2009 is amended as follows.

New stabilisation option: bail-in

2

After section 12 insert—

“12A Bail-in option

(1)     The third stabilisation option is exercised by the use of the power in subsection (2).

(2)     The Bank of England may make one or more resolution instruments (which may contain provision or proposals of any kind mentioned in subsections (3) to (6)).

(3)     A resolution instrument may—

(a)     make special bail-in provision with respect to a specified bank;

(b)     make other provision for the purposes of, or in connection with, any special bail-in provision made by that or another instrument.

(4)     A resolution instrument may—

(a)     provide for securities issued by a specified bank to be transferred to a bail-in administrator (see section 12B) or another person;

(b)     make other provision for the purposes of, or in connection with, the transfer of securities issued by a specified bank (whether or not the transfer has been or is to be effected by that instrument, by another resolution instrument or otherwise).

(5)     A resolution instrument may set out proposals with

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