(1) In this Part "banking group company" means an undertaking - (a) which is (or, but for the exercise of a stabilisation power, would be) in the same group as a bank or third-country institution (within the meaning of section 81AA(14)), and (b) in respect of which any conditions specified in an order made by the Treasury are met.

(2) An order may require the Bank of England to consult specified persons before determining whether the conditions are met.

(3) An order -

(a) is to be made by statutory instrument, and

(b) may not be made unless a draft has been laid before and approved by resolution of each House of Parliament.

(4) If an order contains a statement that the Treasury are of the opinion that, by reason of urgency, it is necessary to make the order without complying with subsection (3)(b) -

(a) the order may be made, and