9.8.5 Remuneration in case of a split-up of the bank

Section 9.3.1 introduced the cases in which the split-up of the bank was assessed under the IAC. One of these cases was the case of Dunfermline. In the decision on Dunfermline, the Commission noted that there was no remuneration paid for the implied asset relief by the Dunfermline business transferred to Nationwide. In addition, the Commission noted that the UK State would not recuperate any benefit which the Dunfermline business transferred to Nationwide might enjoy as a result of the asset relief measure through a higher sale price of the assets, since the business had already been sold without any possibility of revising the price obtained. The Commission therefore concluded that the remuneration criterion was not met.1 The consequences of this conclusion will be discussed in section 9.10.