Statutory Instruments
2025 No. 83
Banks And Banking
The Silicon Valley Bank UK Limited Compensation Scheme Order 2025
Made
27th January 2025
Coming into force
28th January 2025
The Treasury make this Order in exercise of the powers conferred by sections 49(2), 50(2), 61(2) and 259(1) of the Banking Act 2009( 1 ).
A draft of this Order has been laid before Parliament and approved by a resolution of each House of Parliament in accordance with section 62(2) of the Banking Act 2009.
Citation, commencement, extent and interpretation
1. —(1) This Order may be cited as the Silicon Valley Bank UK Limited Compensation Scheme Order 2025.
(2) This Order comes into force on the day after the day on which it is made.
(3) This Order extends to the England and Wales, Scotland and Northern Ireland.
(4) In this Order, “ Silicon Valley Bank UK Limited ” means the company incorporated on 3rd April 2020 with the company registered number 12546585.
Determination of amount of compensation
Vicky Foxcroft
Nicholas Dakin
Two Lords Commissioners of His Majesty’s Treasury
27th January 2025
The Silicon Valley Bank UK Limited Mandatory Reduction and Share Transfer Instrument 2023 was made on 13th March 2023 by the Bank of England in exercise of the powers conferred on it by sections 6B, 11(2), 15, 17, 18, 20, 21, 23, 48L, 48N, 48O, 48Q, 48S and 66 of the Banking Act 2009. The instrument is available on the Bank of England’s website at www.bankofengland.co.uk , and it can also be obtained from HM Treasury, 1 Horse Guards Road, London SW1A 2HQ.