Jurisdiction(s):
United Kingdom

Related legal acts

Key definition

Safeguards definition

What does Safeguards mean? In legal practice, safeguards refers to the systems, records, reporting and inspections that account for nuclear material and verify its non‑diversion to nuclear weapons or other prohibited uses. It is a term of art in nuclear regulation and international law. In the UK, it is used in legislation (notably the Nuclear Safeguards Act 2018 and the Nuclear Safeguards (EU Exit) Regulations 2019) and administered by the Office for Nuclear Regulation (ONR); in Ireland it is applied under the Euratom Treaty, with the European Commission and the iaea conducting Euratom/IAEA safeguards. Core features include material control and accounting (MC&A), facility...

UK bank special resolution safeguards: publication/approval, reporting/accountability, compensation (incl. bail-in and 'no creditor worse off'), and independent valuation/appeals for shareholders, creditors and counterparties

Published by a LexisNexis Restructuring & Insolvency expert

Practice notes

Publication and approval

In this Practice Note, ‘bank’ denotes a UK institution authorised under Part 4A of the Financial Services and Markets Act 2000 (FSMA 2000) to conduct the regulated activity of taking deposits (as defined by FSMA 2000, s 22, read with Schedule 2 and any order made under FSMA 2000, s 22). Any later references to ‘bank’ also cover a resolution company. Following the failure of Silicon Valley Bank, the government consulted on additional reforms and, in May 2025, enacted the Bank Resolution (Recapitalisation) Act 2025 (see: LNB News 19/07/2024 30). These changes are not confined to smaller institutions: from 16 July 2025 they extend to banks of any scale (subject to meeting the other entry criteria) to enable recapitalisation of in-scope entities using FSCS monies rather than taxpayer funding, thereby lowering the likelihood that small bank failures give rise to calls on public finances (see Practice Note: Bank resolution reforms under the Bank Resolution (Recapitalisation) Act 2025). Additionally, Part 1 of the Banking Act 2009 (BA 2009) applies to building societies and investment firms, with alterations set out in BA 2009...

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Web page updated on 22/05/2026

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