Creating a template for banking insolvency law reform after the collapse of Northern Rock: Part 2

dc.contributor.author	Tomasic, R.A.
dc.date.issued	2009
dc.description.abstract	The Banking Act 2009 provides for three broad sets of procedures for dealing with banks in financial difficulties: (a) the special resolution regime, (b) bank insolvency, and (c) bank administration. These procedures apply only to “banks” as defined in s.2; this definition encompasses UK institutions that have been authorised under the Financial Services and Markets Act (FSMA) 2000 to carry on the regulated activity of accepting deposits; excluded from the ambit of the term “bank” are building societies, credit unions and other institutions excluded by order made by the Treasury. Interestingly, the vast area of the financial market that has been described as the "shadow" banking system is excluded from regulatory intervention under this legislation.
dc.identifier.citation	Insolvency intelligence, 2009; 22(6):81-88
dc.identifier.issn	0950-2645
dc.identifier.uri	https://hdl.handle.net/1959.8/121943
dc.language.iso	en
dc.publisher	Sweet and Maxwell
dc.rights	Copyright 2009 Sweet and Maxwell
dc.subject	banks
dc.subject	corporate insolvency
dc.subject	law reform
dc.subject	special resolution regime
dc.subject	Banking Act 2009
dc.title	Creating a template for banking insolvency law reform after the collapse of Northern Rock: Part 2
dc.type	Journal article
pubs.publication-status	Published
ror.mmsid	9915910726801831

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