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Banking (Special Provisions) Act 2008 |
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Banking (Special Provisions) Act 2008 Legislation in the United Kingdom authorizing the British government to nationalize failing banks under certain circumstances. The proximate cause of the act was the nationalization of Northern Rock, which collapsed in 2007. However, three other banks were taken over the same year under the act. See also: Late 2000s recession. Want to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit the webmaster's page for free fun content. |
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