Only a few days to go: We’re raising £25,000 to keep TheyWorkForYou running and make sure people across the UK can hold their elected representatives to account.Donate to our crowdfunder
We have discussed similar subsections in other parts of the Bill and at all stages I have been at pains to point out that the authorities work extremely closely together in these situations and on the exercise of the special resolution regime. When we are talking about supplemental property transfer instruments, it is important that we continue the dialogue among the Bank of England, the FSA and the Treasury. The word consult is right rather than notify when we expect discussions to take place. In the normal way in which these events are handled, we would expect a close consultation not just on transfer instruments, but far more broadly.