Banking (Special Provisions) Act 2008: Difference between revisions
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'''The Banking (Special Provisions) Bill''' was introduced in order to enable the government to [[nationalise]] high-street banks under emergency circumstances by [[secondary legislation]]. The Bill was introduced in order to nationalise the failing bank [[Northern Rock]] after a private-sector solution could not be found. |
'''The Banking (Special Provisions) Bill''' was introduced in order to enable the UK government to [[nationalise]] high-street banks under emergency circumstances by [[secondary legislation]]. The Bill was introduced in order to nationalise the failing bank [[Northern Rock]] after a private-sector solution could not be found. |
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==Status== |
==Status== |
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Revision as of 22:16, 19 February 2008
The Banking (Special Provisions) Bill was introduced in order to enable the UK government to nationalise high-street banks under emergency circumstances by secondary legislation. The Bill was introduced in order to nationalise the failing bank Northern Rock after a private-sector solution could not be found.
Status
The Bill was first read in the House of Commons on the 19th February 2008. It received a second reading.
External links
- Banking (Special Provisions) Bill, HM Treasury (PDF file)