Part 6: Miscellaneous Other miscellaneous provisions Section 74: Reinsurance for acts of terrorism
This section inserts new sections 2A and 2B into the Reinsurance (Acts of Terrorism) Act 1993 (the 1993 Act) after section 2.
	Section 2A gives HM Treasury the power to issue directions to any public sector body, as classified by the Office for National Statistics (ONS), which benefits from an arrangement under the Act.
	Section 2A(1) is self-explanatory.
	Subsection (2) defines the category of "relevant persons" who may be subject to directions made by HM Treasury under these powers. A "relevant person" is defined in subsection (2)(a) as a person who has (i) entered into arrangements with HM Treasury under the 1993 Act (whether before or after the passing of the 1993 Act), such as an unlimited guarantee, and (ii) who has also been classified to the public sector by the ONS (whether before or after the passing of the 1993 Act). Subsection (2)(b) also includes in the definition any group undertaking of a person falling within subsection (2)(a).
	Subsection (3) gives HM Treasury the power to direct a "relevant person" to appoint an accounting officer.
	Subsection (4) allows HM Treasury to issue directions if it considers it necessary for the purpose of ensuring compliance with any requirements associated with the public sector classification of a person falling within subsection (2)(a). The following subsection (5) sets out certain matters to which such requirements may relate.
	Subsection (6) imposes a requirement on HM Treasury to consult with a "relevant person" before giving a direction to that person.
	Subsection (7) sets out the requirements for HM Treasury to issue a notice alongside any direction which includes the reasons for giving the direction and states when the direction takes effect.
	Subsections (8) to (12) are self-explanatory.
	Section 2B sets out how section 2A may be enforced by HM Treasury.