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Banking Act 2009

Section 149: General application of this Part

354.This section enables special provisions to be made, where necessary, in cases involving multiple property transfers from a residual bank or a bridge bank.

355.In such circumstances, the Treasury may make regulations modifying the application of the bank administration procedure. Those regulations would be subject to the affirmative procedure, or in the first instance the 28 day procedure, as provided by section 259.

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