Nationalisation of Northern Rock that Northern Rock was to be nationalised claiming that the private bids did not offer "sufficient value for money to the taxpayer" and thus the bank was to be brought under a "temporary period of public ownership". The government is the sole shareholder through UK Financial Investments Limited, and the Bank is managed at "arm's length" on a commercial basis by an independent board under Ron Sandler. Customers are not affected by this change. A Government-appointed arbitration panel will decide on a fair price for the compensation to be offered to investors for their shares. Prior to the markets opening
Local Government (Boundaries) Act (Northern Ireland) 1971 but provided a list of 26 existing local government areas which would form the basis of the pattern. It then gave the Governor of Northern Ireland the power to appoint a Local Government Boundaries Commissioner who was to report with proposed names and boundaries not later than 30 June 1972. The Commissioner's proposals were put into effect by the Local Government (Boundaries) Order (Northern Ireland) 1972, dated 17 July 1972. The 1971 Act created districts, but did not make provision for councils to govern them. This was done by the Local Government Act (Northern Ireland) 1972. The councils created by