Moved by
Lord Deighton
17: Schedule 2, page 102, line 31, at end insert—
“(1A) “Special bail-in provision”, in relation to a bank, also includes any associated provision (see subsection (1B)) that the Bank of England may think it appropriate to make in consequence of any provision under subsection (1) that—
(a) is made in the same resolution instrument, or
(b) has been made in another resolution instrument in respect of the bank.
(1B) “Associated provision” means provision cancelling or modifying a contract under which a banking group company has a liability.”
18: Schedule 2, page 105, line 9, leave out “was a result of” and insert “resulted from”
19: Schedule 2, page 107, line 14, leave out “bail-in administrator” and insert “person required to draw up the business reorganisation plan”
20: Schedule 2, page 124, line 26, at end insert—
“(6) A direction under this section may specify circumstances in which the person given the direction is immune from liability in damages.
(7) Immunity by virtue of subsection (6) does not extend to action—
(a) in bad faith, or
(b) in contravention of section 6(1) of the Human Rights Act 1998.
(8) Where a direction under this section is given to a director of the institution, the director is not to be regarded as failing to comply with any duty owed to any person (for example, a shareholder, creditor or employee of the institution) by virtue of any action in compliance with the direction.””