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AI Summary of 48T. Procedure

As soon as is reasonably practicable after making a resolution instrument in respect of a bank, the Bank of England must send a copy to the bank, the Treasury, the Prudential Regulation Authority (PRA), the Financial Conduct Authority (FCA) and any other person specified in the code of practice under section 5.

As soon as is reasonably practicable after making a resolution instrument the Bank must publish a copy on the Bank’s internet website, in two newspapers chosen to maximise the likelihood of the instrument coming to the attention of persons likely to be affected, and, where the bank’s securities have been admitted to trading on a regulated market, by means of a regulatory information service; the Bank must also arrange for publication on the internet website of the bank. Where the Treasury receive a copy they must lay a copy before Parliament.

Version status: In force | Document consolidation status: Updated to reflect all known changes
Version date: 1 January 2015 - onwards
Version 2 of 2

48T. Procedure

(1) As soon as is reasonably practicable after making a resolution instrument in respect of a bank the Bank of England must send a copy to -

(a) the bank,

(b) the Treasury,

(c) the PRA,

(d) the FCA, and

(e) any other person specified in the code of practice under section 5.

(2) As soon as is reasonably practicable after making a resolution instrument the Bank of England must publish a copy -

(a) on the Bank's internet website,

(b) in two newspapers, chosen by the Bank of England to maximise the likelihood of the instrument coming to the attention of persons likely to be affected, and