Banking Act conundrums – answered by Dunfermline?

Chris Bates, Kate Gibbons, Kevin Ingram, Faizal Khan, Jessica Littlewood, Julia Machin, Emma Matebalavu and Simon Sinclair, Clifford Chance LLP Clifford Chance retains the copyright of this article.

Less than six weeks after being enacted, the powers under the Banking Act 2009 (the Banking Act) were exercised in relation to Dunfermline Building Society (Dunfermline). Now that the dust has settled, this briefing considers whether the first exercise of powers under the Banking Act has provided insights into any of the initial questions and concerns raised by the Banking Act.