Banking Act 1970 · 2020 Revised Edition · Part 7 · Powers of Control Over Banks, Etc.
53. Remuneration and expenses of Authority and others in certain cases
Feedback & supportThe Authority may at any time fix the remuneration and expenses to be paid by a bank —
to a statutory adviser or statutory manager appointed in relation to the bank, whether or not the appointment has been revoked; and
statutory adviser
“statutory adviser” means a statutory adviser appointed under section 49;
where the Authority has assumed control of the relevant business of the bank, to the Authority and any person employed or authorised by the Authority under section 3 in relation to its assumption of control of the relevant business, whether or not the Authority has ceased to be in control of the relevant business.
relevant business
“relevant business” means any business of a bank —(a)which the Authority has assumed control of under section 49; or(b)in relation to which a statutory adviser or a statutory manager has been appointed under section 49;