Credit Guarantee Scheme

1. General

1.1 On 8 October 2008 The Commissioners of Her Majesty’s Treasury announced the Scheme (as defined below) and on 13 October 2008 the Deed of Guarantee (as referred to below) was executed on behalf of The Commissioners of Her Majesty’s Treasury.

1.2 These are the Rules of the Scheme in force on 13 October 2008.

2. Definitions

2.1 In these Rules the following expressions have the following meanings:

Applicant means the Eligible Institution making an Application

Application means an application made under Rule 4.1 or Rule 4.5

Business Day means a day (excluding Saturday and Sunday) on which banks are generally open in London for the transaction of banking business

Cessation Date has the meaning given in Rule 7.6

Counter-Indemnity means each deed of counter-indemnity to be provided under Rule 5.2.2

Currency Business Day in respect of a currency means: (i) in the case of a currency other than Euro, a day (other than a Saturday or Sunday) on which commercial banks and foreign exchange markets settle payments in the principal financial centre for such currency; and (ii) in the case of Euro, a day on which TARGET 2 (the Trans-European Automated Real-Time Gross Settlement Express Transfer System) (or any successor thereto) is operating DMO means The United Kingdom Debt Management Office Eligible Scheme Liabilities means any liability of an Eligible Institution which satisfies the

Instrument Eligibility Criteria

Fee means the fee in respect of an Eligibility Certificate determined by the Guarantor in accordance with Rule 7

Fee Letter in respect of a Fee means the letter referred to in Rule 7.7 in respect of that Fee Final Application

Date has the meaning given in Rule 4.1

Guarantee means the guarantee contained in the Deed of Guarantee in respect of the Scheme dated 13 October 2008 and executed on behalf of The Commissioners of Her Majesty’s Treasury, as amended from time to time

Guarantee Statement means the statement referred to in Rule 8.1

Guarantor means The Commissioners of Her Majesty’s Treasury Institution Criteria means the criteria set out in Annex 2

Instrument Eligibility Criteria means the criteria set out in Annex 4

Maturing Liabilities means liabilities, of the Eligible Institution or of a company which is directly or indirectly wholly owned by the Eligible Institution and incorporated in the United Kingdom, maturing after the date of commencement of the Scheme

Recognition Date in respect of an Initial Eligible Institution means 13 October 2008 and in respect of an Eligible Institution which is not an Initial Eligible institution the date of the Institution Certificate with respect to that Eligible Institution these Rules means these Rules as amended and supplemented and in force from time to time

Scheme means the 2008 Credit Guarantee Scheme described in the Market Notice entitled “The UK Government’s 2008 Credit Guarantee Scheme” issued by the DMO on 13 October 2008

Start Date has the meaning given in Rule 7.4.

2.2 Words and expressions defined in the Guarantee have the same meanings where used
in these Rules.

2.3 References to an Annex are to an Annex to these Rules.