Bank Resolution (Recapitalisation) Act 2025

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<section xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" xmlns:uk="https://www.legislation.gov.uk/namespaces/UK-AKN" xmlns:ukl="http://www.legislation.gov.uk/namespaces/legislation" eId="section-1"><num>1</num><heading>Recapitalisation payments</heading><content><p><mod>In Part 15 of the Fi
<section xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" xmlns:uk="https://www.legislation.gov.uk/namespaces/UK-AKN" xmlns:ukl="http://www.legislation.gov.uk/namespaces/legislation" eId="section-2"><num>2</num><heading>Reporting</heading><content><p><mod>In Part 15 of the Financial Services
<section xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" xmlns:uk="https://www.legislation.gov.uk/namespaces/UK-AKN" xmlns:ukl="http://www.legislation.gov.uk/namespaces/legislation" eId="section-3"><num>3</num><heading>Notification to Parliamentary Committees</heading><content><p><mod>In Pa
<section xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" xmlns:uk="https://www.legislation.gov.uk/namespaces/UK-AKN" xmlns:ukl="http://www.legislation.gov.uk/namespaces/legislation" eId="section-4"><num>4</num><heading>Reimbursement in respect of recapitalisation payments</heading><content>
<section xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" xmlns:uk="https://www.legislation.gov.uk/namespaces/UK-AKN" xmlns:ukl="http://www.legislation.gov.uk/namespaces/legislation" eId="section-5"><num>5</num><heading>Code of practice</heading><content><p><mod>In the Banking Act 2009, in s
<section xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" xmlns:uk="https://www.legislation.gov.uk/namespaces/UK-AKN" xmlns:ukl="http://www.legislation.gov.uk/namespaces/legislation" eId="section-6"><num>6</num><heading>Amendments to the Financial Services and Markets Act 2000</heading><subs
<subsection xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="section-6-1"><num>(1)</num><content><p>The Financial Services and Markets Act 2000 is amended as follows.</p></content></subsection>
<subsection xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" xmlns:uk="https://www.legislation.gov.uk/namespaces/UK-AKN" xmlns:ukl="http://www.legislation.gov.uk/namespaces/legislation" eId="section-6-2"><num>(2)</num><intro><p>In section 213 (the compensation scheme)—</p></intro><level clas
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="section-6-2-a"><num>(a)</num><content><p><mod>in subsection (5), after “claims” insert <quotedText>“or recapitalisation payments within the meaning of section 214E, as the case may be,”</quotedText>;</mod></p></conten
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" xmlns:uk="https://www.legislation.gov.uk/namespaces/UK-AKN" xmlns:ukl="http://www.legislation.gov.uk/namespaces/legislation" class="para1" eId="section-6-2-b"><num>(b)</num><content><p><mod>after subsection (5) insert—<quotedStructure s
<subsection xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" xmlns:uk="https://www.legislation.gov.uk/namespaces/UK-AKN" xmlns:ukl="http://www.legislation.gov.uk/namespaces/legislation" eId="section-6-3"><num>(3)</num><content><p><mod>In section 223 (management expenses), in subsection (3),
<subsection xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="section-6-4"><num>(4)</num><content><p><mod>In section 223C (payments in error), in subsection (1), after “214B” insert <quotedText>“, <ref href="#d25e94">214E</ref>”</quotedText>.</mod></p></content></subsection>
<section xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" xmlns:uk="https://www.legislation.gov.uk/namespaces/UK-AKN" xmlns:ukl="http://www.legislation.gov.uk/namespaces/legislation" eId="section-7"><num>7</num><heading>Amendments to the Banking Act 2009</heading><subsection eId="section-7-1
<subsection xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="section-7-1"><num>(1)</num><content><p>The Banking Act 2009 is amended as follows.</p></content></subsection>
<subsection xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" xmlns:uk="https://www.legislation.gov.uk/namespaces/UK-AKN" xmlns:ukl="http://www.legislation.gov.uk/namespaces/legislation" eId="section-7-2"><num>(2)</num><intro><p>In section 3 (interpretation: other expressions), in subsection
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="section-7-2-a"><num>(a)</num><content><p>omit the “or” at the end of paragraph (a), and</p></content></level>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" xmlns:uk="https://www.legislation.gov.uk/namespaces/UK-AKN" xmlns:ukl="http://www.legislation.gov.uk/namespaces/legislation" class="para1" eId="section-7-2-b"><num>(b)</num><content><p><mod>at the end of paragraph (b) insert <quotedText
<subsection xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="section-7-3"><num>(3)</num><content><p><mod>In section 12AA (bail-in: sequence of write-down and conversion of capital instruments and liabilities), in subsection (2), in the definition of “the shortfall amount”, at the end in
<subsection xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" xmlns:uk="https://www.legislation.gov.uk/namespaces/UK-AKN" xmlns:ukl="http://www.legislation.gov.uk/namespaces/legislation" eId="section-7-4"><num>(4)</num><content><p><mod>In section 15 (share transfer instrument), after subsecti
<subsection xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" xmlns:uk="https://www.legislation.gov.uk/namespaces/UK-AKN" xmlns:ukl="http://www.legislation.gov.uk/namespaces/legislation" eId="section-7-5"><num>(5)</num><content><p><mod>In section 57 (valuation principles), after subsection (3
<subsection xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" xmlns:uk="https://www.legislation.gov.uk/namespaces/UK-AKN" xmlns:ukl="http://www.legislation.gov.uk/namespaces/legislation" eId="section-7-6"><num>(6)</num><content><p><mod>In section 58 (resolution fund), after subsection (2) ins
<subsection xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" xmlns:uk="https://www.legislation.gov.uk/namespaces/UK-AKN" xmlns:ukl="http://www.legislation.gov.uk/namespaces/legislation" eId="section-7-7"><num>(7)</num><content><p><mod>In section 78A (pre-conditions for financial assistance),
<section xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="section-8"><num>8</num><heading>Extent, commencement and short title</heading><subsection eId="section-8-1"><num>(1)</num><content><p>This Act extends to England and Wales, Scotland and Northern Ireland.</p></content></subsection
<subsection xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="section-8-1"><num>(1)</num><content><p>This Act extends to England and Wales, Scotland and Northern Ireland.</p></content></subsection>
<subsection xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="section-8-2"><num>(2)</num><content><p>Sections <ref href="#section-1">1</ref> to <ref href="#section-7">7</ref> of this Act come into force on such day as the Treasury may by regulations appoint.</p></content></subsection>
<subsection xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="section-8-3"><num>(3)</num><content><p>Regulations under this section are to be made by statutory instrument.</p></content></subsection>
<subsection xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="section-8-4"><num>(4)</num><content><p>This Act may be cited as the Bank Resolution (Recapitalisation) Act 2025.</p></content></subsection>