(1) A resolution instrument may enable the Bank of England -

(a) to remove a director or senior manager of a specified bank;

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

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

(d) to appoint a director or senior manager of a specified bank.

(2) Subsection (1) also applies to a director or senior manager 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.

(4) In this section "senior manager" means a person who -

(a) exercises executive functions within a specified bank or banking group company, and