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
Government of Northern Ireland (1921–1972) Lord Lieutenant". In practice the Executive Committee was answerable to the elected House of Commons of Northern Ireland. As a result, the Executive Committee stood in a similar relationship to the legislature and Crown (within devolved Northern Ireland) as the UK's Cabinet does to the Crown and Westminster Parliament. The Executive Committee thus played an equivalent constitutional role in relation to Northern Ireland as the UK Cabinet did to the United Kingdom as a whole. The system of government created by the "Government of Ireland Act 1920" was first suspended by the Northern Ireland (Temporary Provisions) Act 1972, and then