(1) The Treasury may at any time require the Bank of England to inform them in writing whether or not a condition for financial assistance has been met in relation to a particular bank.

(2) "Condition for financial assistance" means a condition specified in -

(a) Article 37(10)(a) (financial assistance through government stabilisation tools), or

(b) Article 44(5)(a) (contributions to institution from resolution financing arrangement where bail-in liabilities have been excluded from bail-in),

of the recovery and resolution directive.

(3) If the Bank of England seeks the Treasury's consent to the making of a mandatory reduction instrument or the exercise of a stabilisation power in accordance with section 78, the Bank must notify the Treasury in writing -

(a) whether or not the proposals involve action in relation to which a condition for financial assistance applies, and