100 Groups
Financial Services Act 2012 (2012 c 21) | Legislation

100 Ìý³Ò°ù´Ç³Ü±è²õ

(1)     The Banking Act 2009 is amended as follows.

(2)     In section 1 (overview), for the entry in the Table relating to sections 82 and 83 substitute—

“Sections 81B to 83³Ò°ù´Ç³Ü±è²õâ€.

(3)     In section 20 (directors), after subsection (1) insert—

“(1A)     Subsection (1) also applies to a director of any undertaking which is a banking group company in respect of a specified bank.â€

(4)     After section 36 insert—

“36´¡Ìý¶Ù¾±°ù±ð³¦³Ù´Ç°ù²õ

(1)     A property transfer instrument may enable the Bank of England—

(a)     to remove a director of a specified bank;

(b)     to vary the service contract of a director of a specified bank;

(c)     to terminate the service contract of a director of a specified bank;

(d)     to appoint a director of a specified bank.

(2)     Subsection (1) also applies to a director of any undertaking which is a banking group company in respect of a specified bank.

(3)     Appointments under subsection (1)(d) are to be on terms and conditions agreed with the Bank of England.â€

(5)     For the italic heading before section 82 substitute “Groupsâ€, and after that heading insert—

“81B Sale to commercial purchaser and transfer to bridge bank

(1)

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