Statement by the Delegation of Armenia in response to the statement by the Co-Chairmen of the Minsk Group

The Financial Services and Markets Act 2000 is amended as follows.

In section 213 (the compensation scheme)—

In section 223 (management expenses), in subsection (3), after paragraph (c) insert—.

In section 223C (payments in error), in subsection (1), after “214B” insert “, 214E”.

The Banking Act 2009 is amended as follows.

In section 3 (interpretation: other expressions), in subsection (1), in the definition of “extraordinary public financial support”—

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 insert “less the amount of any recapitalisation payment required under section 214E of the Financial Services and Markets Act 2000 in relation to the bank in question”.

In section 15 (share transfer instrument), after subsection (1) insert—

In section 57 (valuation principles), after subsection (3) insert—

In section 58 (resolution fund), after subsection (2) insert—

In section 78A (pre-conditions for financial assistance), at the end insert—

This Act extends to England and Wales, Scotland and Northern Ireland.

Sections 1 to 7 of this Act come into force on such day as the Treasury may by regulations appoint.

Regulations under this section are to be made by statutory instrument.

This Act may be cited as the Bank Resolution (Recapitalisation) Act 2025.