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Alliance & Leicester (Girobank) Act 1993 (c. iii)

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10Evidence of vesting

(1)The production of a Queen’s Printer’s copy of this Act shall, for all purposes, be conclusive evidence of the vesting of any property and liabilities of Girobank in Alliance & Leicester in accordance with the provisions of this Act.

(2)The following provisions of this section have effect without prejudice to the generality of subsection (1) above.

(3)A Queen’s Printer’s copy of this Act shall, in relation to any registered securities within the meaning of the [1963 c. 18.] Stock Transfer Act 1963 vested in Alliance & Leicester in accordance with the provisions 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 Girobank to Alliance & Leicester.

(4)Any document made or executed on or after any day appointed under section 3 (Appointed day) of this Act, whereby Alliance & Leicester or Girobank, 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 Girobank immediately before any such day, whether alone or jointly with any other person, shall be sufficient evidence that the interest of Girobank in that property—

(a)in the case of such a document referring to the property as property held by Alliance & Leicester, is vested in Alliance & Leicester under this Act; and

(b)in the case of such a document referring to the property as property held by Girobank, is not vested in Alliance & Leicester under this Act.

(5)Where there is any other transaction by Alliance & Leicester or Girobank on or after any day appointed under section 3 (Appointed day) of this Act in connection with, or in relation to, any property or liabilities which are property or liabilities of Girobank immediately before that day, or shall be deemed in favour of any other party to the transaction, or any person claiming through or under him, that Alliance & Leicester or, as the case may be, Girobank has full power and authority for that transaction as—

(a)in the case of a transaction by Alliance & Leicester, the property or liabilities were vested in it under this Act; and

(b)in the case of a transaction by Girobank, the property or liabilities were not vested in Alliance & Leicester under this Act.

(6)A joint certificate given by or on behalf of Girobank and Alliance & Leicester, whether given before, on or after any day appointed under section 3 (Appointed day) of this Act, that any property or liabilities specified in the certificate is or is not at the date so specified vested in Alliance & Leicester under this Act, shall be conclusive evidence for all purposes of the fact so certified.

(7)Nothing in subsections (4) and (5) above affects the liability of Girobank or Alliance & Leicester to the other of them in respect of anything done, or purporting to have been done, by either of them in connection with, or in relation to, any property or liabilities.

(8)In this section “convey” has the same meaning as in the Law of Property Act 1925.

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