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 Russia of Russia, which exercises executive power. But, the President does appoint the Prime Minister. The Chapter 6 of the Constitution of Russia says, that "The Government of the Russian Federation consists of the Chairman of the Government of the Russian Federation (Prime Minister), Deputy Chairman of the Government of the Russian Federation and federal ministries". After the fall of the Soviet Union, the Russian Council of Ministers had become the main executive body. At some points it contained over 69 state committees, 16–17 ministers, 5 federal services, and over 46 governmental agencies. After the 2004 reform, government duties were split