[142Y Power of Treasury in relation to loss-absorbency requirements]
[142Y Power of Treasury in relation to loss-absorbency requirements]

[(1)     The Treasury may by order make provision about the exercise by either regulator of its functions under this Act, so far as they are (apart from the order) capable of being exercised in relation to a relevant body so as to require the relevant body—

(a)     to issue any debt instrument, or

(b)     to ensure that any part of the relevant body's debt consists of debt owed by it in respect of debt instruments, or debt instruments of a particular kind.

(2)     A “relevant body” is—

(a)     a ring-fenced body,

(b)     any other body corporate that has a Part 4A permission relating to the regulated activity of accepting deposits, or