Alliance & Leicester plc (Group Reorganisation) Act 2000

2000 CHAPTER iii

An Act to provide for the transfer to Alliance & Leicester plc of the undertakings of Girobank plc and Alliance & Leicester Personal Finance Limited; and for related purposes.

[10th February 2000]

WHEREAS—

(1)

Alliance & Leicester plc (hereinafter called “A&L”) is a company registered in England and Wales under the [1985 c. 6.] Companies Act 1985 which was formed for the purpose, inter alia, of carrying on the whole of the business formerly carried on by Alliance & Leicester Building Society (hereinafter called “Alliance & Leicester”):

(2)

On 21st April 1997 the whole of the business of Alliance & Leicester was transferred to A&L pursuant to section 97 of the [1986 c. 53.] Building Societies Act 1986:

(3)

Girobank plc (hereinafter called “Girobank”) and Alliance & Leicester Personal Finance Limited (hereinafter called “ALPF”) are limited companies registered in England and Wales under the Companies Act 1985 and carry on in the United Kingdom and elsewhere the businesses of banking, lending and financial services and activities related to such businesses:

(4)

A&L is the beneficial owner of all the issued shares in Girobank and ALPF:

(5)

For the better conduct of the businesses of A&L, Girobank and ALPF, it is expedient that provision be made for the fusion of their respective undertakings by the transfer to A&L of the undertakings of Girobank and ALPF, and that that fusion of undertakings should be effected without interference with the conduct and continuity of those businesses:

(6)

It is expedient that the other provisions in this Act should be enacted:

(7)

The objects of this Act cannot be attained without the authority of Parliament:

May it therefore please Your Majesty that it may be enacted, and be it enacted, by the Queen’s most Excellent Majesty, by and with the advice and consent of the Lords Spiritual and Temporal, and Commons, in this present Parliament assembled, and by the authority of the same, as follows:—