Credit Institutions (Stabilisation) Act 2010

Expression of intention in relation to exercise of powers in relation to particular relevant institutions.

56.— (1) Where the Minister, having consulted with the Governor, is of the opinion in relation to a relevant institution that particular circumstances exist, the Minister may express, in writing, an intention in relation to the future exercise, in relation to that relevant institution, of his or her powers under this Act.

(2) The Minister shall express an intention under this section only for one or more of the purposes referred to in paragraphs (a) to (e) of section 55 (1) and only if he or she is of the opinion that it is more appropriate to do so than to make an order under that section.

(3) A expression of intention by the Minister under this section—

(a) shall be addressed to such persons as the Minister considers appropriate, having regard to the purpose or purposes for which it is made, and

(b) shall be to the effect that, if specified circumstances exist, he or she does not intend to exercise the powers or a specified power conferred by this Act in relation to a specified relevant institution.