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 at least in the north east region, supported its creation while nationalists were opposed. Subsequently, on 6 December 1922, the island of Ireland became an independent dominion known as the Irish Free State but Northern Ireland immediately exercised its right to "opt out" of the new Dominion. The first government of Northern Ireland was the Executive Committee of the Privy Council of Northern Ireland, which exercised such authority from 1922 to 1972. A Northern Ireland Executive was created following the signing of the Sunningdale Agreement in 1974, while the current Northern Ireland Executive under the First Minister and Deputy First