Dormant Bank and Building Society Accounts Act 2008

Amendments to Part 7

This section has no associated Explanatory Notes

4(1)Section 111 (sanction of the court for business transfer schemes) is amended as follows.

(2)In subsection (1), for “or a banking business transfer scheme” there is substituted “, a banking business transfer scheme or a reclaim fund business transfer scheme”.

(3)In subsection (2)—

(a)at the beginning of paragraph (a) there is inserted “in the case of an insurance business transfer scheme or a banking business transfer scheme,”;

(b)after that paragraph there is inserted—

(aa)in the case of a reclaim fund business transfer scheme, the appropriate certificate has been obtained (as to which see Part 2A of that Schedule);.