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- Banking_(Special_Provisions)_Act_2008 abstract "The Banking (Special Provisions) Act 2008 (c 2) is an Act of the Parliament of the United Kingdom that entered into force on the 21 February 2008 in order to enable the UK government to nationalise high-street banks under emergency circumstances by secondary legislation. The Act was introduced in order to nationalise the failing bank Northern Rock after the bank was supported by Bank of England credit and a private-sector solution was deemed "not to provide sufficient value for the taxpayer" by the UK government.Opposition to the Act by the Conservatives was based on: the Bill providing an exemption to the Freedom of Information Act 2000, the large liabilities to the taxpayer and the alleged lack of independence from the government. The Bill was also sufficiently widely drawn to allow the nationalisation of any financial institution, leading to the concern that other banks may be in financial difficulty.After the nationalisation of Northern Rock, the Act allowed for the nationalisation of the mortgage and personal loan book of Bradford & Bingley on 29 September 2008.On 8 October 2008, the Treasury announced that an order under the Act was being used to transfer all retail deposits with Heritable Bank, a UK-based banking subsidiary of the failing Icelandic bank Landsbanki, and Kaupthing Edge to ING Direct. However section 2(8) of the Act provides that the Treasury may only make Transfer Orders under the Act for a maximum of a year after its passage. The Act therefore expired on 21 February 2009, when it was superseded by the Banking Act 2009.".
- Banking_(Special_Provisions)_Act_2008 wikiPageExternalLink bankingspecialprovisions.html.
- Banking_(Special_Provisions)_Act_2008 wikiPageExternalLink contents.
- Banking_(Special_Provisions)_Act_2008 wikiPageExternalLink enacted.
- Banking_(Special_Provisions)_Act_2008 wikiPageExternalLink contents.
- Banking_(Special_Provisions)_Act_2008 wikiPageID "15849102".
- Banking_(Special_Provisions)_Act_2008 wikiPageRevisionID "598022166".
- Banking_(Special_Provisions)_Act_2008 commencement "2008-02-21".
- Banking_(Special_Provisions)_Act_2008 hasPhotoCollection Banking_(Special_Provisions)_Act_2008.
- Banking_(Special_Provisions)_Act_2008 introducedBy "Alistair Darling".
- Banking_(Special_Provisions)_Act_2008 legislationHistory bankingspecialprovisions.html.
- Banking_(Special_Provisions)_Act_2008 longTitle "An Act to make provision to enable the Treasury in certain circumstances to make an order relating to the transfer of securities issued by, or of property, rights or liabilities belonging to, an authorised deposit-taker; to make further provision in relation to building societies; and for connected purposes.".
- Banking_(Special_Provisions)_Act_2008 originalText enacted.
- Banking_(Special_Provisions)_Act_2008 parliament "Parliament of the United Kingdom".
- Banking_(Special_Provisions)_Act_2008 revisedText contents.
- Banking_(Special_Provisions)_Act_2008 royalAssent "2008-02-21".
- Banking_(Special_Provisions)_Act_2008 shortTitle "The Banking Act 2008".
- Banking_(Special_Provisions)_Act_2008 status "Current".
- Banking_(Special_Provisions)_Act_2008 statuteBookChapter "2008".
- Banking_(Special_Provisions)_Act_2008 territorialExtent "England and Wales, Scotland and Northern Ireland".
- Banking_(Special_Provisions)_Act_2008 subject Category:2008_in_economics.
- Banking_(Special_Provisions)_Act_2008 subject Category:Banking_legislation_in_the_United_Kingdom.
- Banking_(Special_Provisions)_Act_2008 subject Category:Great_Recession.
- Banking_(Special_Provisions)_Act_2008 subject Category:United_Kingdom_Acts_of_Parliament_2008.
- Banking_(Special_Provisions)_Act_2008 comment "The Banking (Special Provisions) Act 2008 (c 2) is an Act of the Parliament of the United Kingdom that entered into force on the 21 February 2008 in order to enable the UK government to nationalise high-street banks under emergency circumstances by secondary legislation.".
- Banking_(Special_Provisions)_Act_2008 label "Banking (Special Provisions) Act 2008".
- Banking_(Special_Provisions)_Act_2008 sameAs m.03qcx1g.
- Banking_(Special_Provisions)_Act_2008 sameAs Q4856310.
- Banking_(Special_Provisions)_Act_2008 sameAs Q4856310.
- Banking_(Special_Provisions)_Act_2008 wasDerivedFrom Banking_(Special_Provisions)_Act_2008?oldid=598022166.
- Banking_(Special_Provisions)_Act_2008 isPrimaryTopicOf Banking_(Special_Provisions)_Act_2008.