Commercial and Private Bank Act 1991

11 Evidence of transfer and vesting

(1) The production of a Queen’s Printer’s copy of this Act shall, for all purposes, be conclusive evidence of the transfer of any property and liabilities of WPZ to CPB, and of the vesting thereof in CPB, in accordance with the provisions of this Act.

(2) Without prejudice to the generality of subsection (1) above, any such copy of this Act shall, in relation to any registered securities within the meaning of the [1963 c. 18.] Stock Transfer Act 1963 transferred to, and vested in, CPB by virtue of this Act, operate for all the purposes of the said Act of 1963 as a duly executed stock transfer in respect of the transfer of such securities from WPZ to CPB.

(3) Without prejudice to the generality of subsection (1) above—

(a) any document made or executed on or after the appointed day whereby CPB, whether alone or jointly with any other person, conveys or transfers, or purports to convey or transfer, to any person (whether for consideration or not), or applies to be registered as the holder or proprietor of, any property held by WPZ immediately before the appointed day, whether alone or jointly with any other person, shall be sufficient evidence that the interest of WPZ in that property has been transferred to and vested in CPB under this Act; and

(b) where there is any other transaction by CPB on or after the appointed day in connection with, or in relation to, any property or liability which is property or a liability of WPZ immediately before the appointed day, it shall be deemed in favour of any other party to the transaction, or any person claiming through or under him, that CPB has full power and authority for that transaction as if the property or liability had been transferred to and vested in it under this Act.

(4) Without prejudice to the generality of subsection (1) above—

(a) any document made or executed on or after the appointed day whereby WPZ, whether alone or jointly with any other person, conveys or transfers, or purports to convey or transfer, to any person (whether for consideration or not), or applies to be registered as the holder or proprietor of, any property held by it immediately before the appointed day, whether alone or jointly with any other person, shall be sufficient evidence that its interest in that property has not been transferred to and vested in CPB under this Act; and

(b) where there is any other transaction by WPZ on or after the appointed day in connection with, or in relation to, any property or liability which is property or a liability of WPZ immediately before the appointed day, it shall be deemed in favour of any other party to the transaction, or any person claiming through or under him, that WPZ has full power and authority for that transaction as if the property or liability had not been transferred to and vested in CPB under this Act.

(5) A joint certificate given by or on behalf of WPZ and CPB, whether given before, on or after the appointed day, that any property or liability specified in the certificate will transfer and vest or has transferred and vested, as the case may be, in CPB, or will not transfer and vest or has not transferred and vested, as the case may be, to and in CPB, under this Act shall be conclusive evidence for all purposes of the fact so certified.

(6) Nothing in this section affects the liability of WPZ or CPB to the other of them in respect of anything done, or purported to have been done, by either of them in connection with, or in relation to, any property or liabilities.

(7) In this section “convey” has the same meaning as in the [1925 c. 20.] Law of Property Act 1925.