UK Statutory Instrument
2014
United Kingdom
Bank Recovery and Resolution Order 2014
At a glance
Enforced by
What this Act requires
Sections that create concrete duties on businesses or carry penalties. Procedural and definitional sections are folded into the “Browse other sections” expander at the bottom of each group. Click any section title to read the source text on legislation.gov.uk.
Investment firms
Amended 1 timeRecognised central counterparties
Amended 1 timeThird-country resolution proceedings
Amended 1 timeGrounds for applying
Amended 1 timeNotice to PRA of preliminary steps
Amended 1 timeNotice to regulators and the Bank of England of preliminary steps
Amended 1 timePower to direct bank administrator
Amended 1 timeImmunity
Amended 1 timeState aid
Amended 1 timeStatutory instruments
Amended 1 timeIndex of defined terms in the Banking Act
Amended 1 timeIntroduction to amendments of the Financial Services and Markets Act 2000
Amended 1 timeConsolidated supervision
Amended 1 timeDiscontinuance and suspension of listing
Amended 1 timeDiscontinuance of suspension: procedure
Amended 1 timeProceedings before Upper Tribunal
Amended 1 timeAssessment: consultation by PRA with FCA
Amended 1 timeAssessment procedure
Amended 1 timeRequests for further information
Amended 1 timeRules requiring parent undertakings to facilitate resolution
Amended 1 timePower to impose penalty or issue censure
Amended 1 timeSanctions: procedure
Amended 1 timeCorporation Tax Act 2009
Amended 1 timeFinancial Services Act 2012
Amended 1 timeAmendment of Banking Act 2009 (Restriction of Partial Property Transfers) Order 2009
Amended 1 timeAmendment of Banking Act 2009 (Third Party Compensation Arrangements for Partial Property Transfers) Regulations 2009
Amended 1 timeAmendment of the Banking Act 2009 (Banking Group Companies) Order 2014
Amended 1 timeReview
Amended 2 timesBrowse 99 other sections — procedural / definitional / commencement
Citation and commencement
Introduction to amendments of the Banking Act
Creation of Chapter 1 of Part 1
Overview of Part 1
Interpretation of Part 1 of the Banking Act 2009
Power to address impediments to the resolution of institutions and their groups
Creation of Chapter 3 of Part 1
Special resolution objectives
Code of practice
Mandatory write-down, conversion, etc of capital instruments
Valuation
Exercise of stabilisation powers: general conditions
Effect on other group members, financial stability in EU etc
Specific conditions in section 8
Specific conditions: asset management vehicle
Specific conditions: bail-in
Specific conditions: temporary public ownership
Bridge bank
Asset management vehicle
Bail-in option
Conditions to be met when exercising bail-in option
Bail-in administrators
Temporary public ownership
Effect of a transfer
Continuity
Share transfer instruments and orders: delisting
Share transfer instruments: directors and senior managers
Termination rights: share transfer instruments and orders
Procedure: share transfer instruments
Procedure: share transfer orders
Supplemental share transfer instruments
Meaning of “resolution company”
Asset management vehicles: share transfers
Asset management vehicles: reverse share transfer
Property transfer instruments
Directors
Termination rights: property transfer instruments
Foreign Property
Property transfer instruments: delisting
Property transfer instrument: procedure
Transfer of property subsequent to resolution instrument
Supplementary instruments
Onward transfer
Bridge bank: reverse property transfer
Bail in: reverse property transfer
Property transfer instruments: special bail-in provision
Restriction of partial transfers
Liabilities excluded from scope of special bail-in provision
Meaning of “protected deposit”
General interpretation of section 48B
Business reorganisation plans
Functions of bail-in administrators
Powers in relation to securities
Termination rights, etc: resolution instruments
Resolution instruments: directors and senior managers
Directions in or under resolution instrument
Procedure: resolution instruments
Supplemental resolution instruments
Onward transfer
Reverse transfer
Replacement of provisional valuation
Termination rights, etc
Transfer to resolution company
Onward and reverse transfers etc
Independent valuer: compensation
Resolution fund
Third party compensation: mandatory provision
Principle of no less favourable treatment
Independent valuer: valuation under section 6E or 48X
Resolution administrator
General continuity obligation: property transfers
Special continuity obligations: property transfers
Continuity obligations: onward property transfers
General continuity obligation: share transfers
Contractual variation: share transfers
Continuity obligations: onward share transfers
Suspension powers
Pensions
Enforcement
Disputes
Tax
International obligation notice: general
International obligation notice: bridge bank
Public funds: general
Duty of Bank of England to notify Treasury
Public funds: resolution company
Resolution company: report
Accounting information in reports
Cases where mandatory write-down, conversion etc applies: banking group companies
Groups: transfer to bridge bank etc
Groups: transfer to asset management vehicle
Groups: bail-in option
Sections 81B and 81ZBA: supplemental
Section 81BA: supplemental
Interpretation: “banking group company” etc
Holding companies
Information and enforcement
Creation of Chapter 5 of Part 1
Banks not regulated by PRA
Enforcement and responsible bodies
The regulators that administer or enforce this legislation.
Prudential Regulation Authority
Part of the Bank of England. Prudentially regulates and supervises around 1,292 banks, building societies, credit unions, insurers, and major investment firms. …
Explore more
Browse legislation
Find other UK business legislation with related guidance.
Regulators
Learn more about the bodies that enforce this legislation.