Nationalisation of Northern Rock in the event that the takeover bids fail. On 12 January 2008, the Treasury recruited Ron Sandler, the former Lloyd's of London Chief Executive, to lead Northern Rock, in the event that the bank was nationalised. If the Bank was to be temporarily nationalised, the government would manage the Bank at "arm's length" on a commercial basis, where services for savers and borrowers would not be affected and the company would continue to operate as normal. However nationalisation would also address the future of the Northern Rock Foundation. Alistair Darling rejected the possibility of the Bank being put into administration.
Executive branch of the government of Puerto Rico Constitution of Puerto Rico vests the executive power on the Governor. The Governor has a duty to enforce state laws, to convene the Legislative Assembly, the power to either approve or veto bills passed by the Legislative Assembly, to appoint government officers, to appoint Justices, and to grant pardons. Puerto Rico does not have a post for lieutenant governor but the Secretary of State performs an equivalent role. Article IV of the Constitution of Puerto Rico establishes that the Secretary of State should serve as acting governor when the Governor is unable to perform his duties. The Constitution and Puerto