Moved by
Lord Newby
44: After Clause 12, insert the following new Clause—
“Part 3
Bail-in stabilisation option
Bail-in stabilisation option
(1) Schedule (Bail-in stabilisation option) (which contains amendments relating to a new stabilisation option in Part 1 of the Banking Act 2009) has effect.
(2) The Treasury may by order make any provision they consider appropriate in consequence of the application to building societies of the amendments made by this Part.
(3) An order may, in particular, amend section 84 of the Banking Act 2009, or amend or modify the effect of any other enactment to which this subsection applies.
(4) Subsection (3) applies to any enactment (including a fiscal enactment) passed or made—
(a) before the passing of this Act, or
(b) on or before the last day of the Session in which this Act is passed.
(5) In this section “building society” has the same meaning as in section 84 of the Banking Act 2009.”