[3B Safeguards relating to directions under section 3A]
Banking Act 2009 (2009 c 1) | Legislation

[3B  Safeguards relating to directions under section 3A]

[(1)     A direction given to a relevant person under section 3A must be accompanied by a notice which—

(a)     states when the direction takes effect (see subsections (2) and (3)),

(b)     gives the Bank of England's reasons for giving the direction, and,

(c)     specifies a reasonable period within which the relevant person may make representations to the Bank about the direction.

(2)     The direction may, if the Bank of England reasonably considers it necessary, take effect—

(a)     immediately it is given

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