36 Duty of Bank to provide information to Treasury
Bank of England and Financial Services Act 2016 (2016 c 14) | Legislation

Information about resolution planning

36  Duty of Bank to provide information to Treasury

(1)     The Financial Services Act 2012 is amended as follows.

(2)     Before section 58 insert—

“57A Duty of Bank to provide information required by Treasury

(1)     The Treasury may by notice in writing require the Bank of England to provide it with information specified, or of a description specified, in the notice.

(2)     The information must be information which the Treasury consider is material to the Bank's assessment of the implications for public funds of a bank, building society, credit union or investment firm failing.

(3)     The information must be provided before the end of such reasonable period as may be specified in the notice.

(4)     The Bank's duty to provide information under this section does not apply to information which the Bank does not have in its possession.

(5)     For the purposes of this section, the cases in which a bank, building society, credit union or investment firm (“the institution”) is to be regarded as failing include those where—

(a)     the institution enters insolvency,

(b)     any of the stabilisation options in Part 1 of the Banking Act 2009 is achieved in relation to the institution, or

(c)

Powered by Lexis+®
 

Popular documents

LEXISNEXIS

HCPC—Main hearing of the Health and Care Professions Tribunal

HCPC—Main hearing of the Health and Care Professions TribunalCoronavirus (COVID-19): This Practice Note contains guidance on subjects impacted by the government’s response to the coronavirus outbreak. In particular, the Health and Care Professions Council (HCPC) (Coronavirus) (Amendment) Rules Order

LEXISNEXIS

Notice of assignment

notice of [assignment OR transfer]To: [insert name of landlord][of [insert address] OR whose registered office is at [insert address] Company number [insert number]][and][To: [insert name of head landlord]][of [insert address] OR whose registered office is at [insert address] Company number [insert

LEXISNEXIS

Strict liability

Strict liabilityStrict liabilityWhen an offence does not require proof of a mental element it is an offence of strict liability. There are some common law offences of strict liability (eg public nuisance, outraging public decency and contempt) most though are statutory, arising often under

LEXISNEXIS

Nuisance and the rule in Rylands v Fletcher—common law liability for pollution

Private nuisancePrivate nuisance is an unlawful interference with a person's use or enjoyment of land or some right over or in connection with it. Interference must be unreasonable, and may be caused, eg by water, smoke, smell, fumes, gas, noise, heat or vibrations. Where the defendant has not