C1C2C4C3C5Part 3Bank Administration

Annotations:
Modifications etc. (not altering text)
C4

Pt. 3 applied (with modifications) by Building Societies Act 1986 (c. 53), s. 90C (as inserted (29.3.2009) by Building Societies (Insolvency and Special Administration) Order 2009 (S.I. 2009/805), art. 2)

C3

Pt. 3 modified (29.3.2009) by Building Societies (Insolvency and Special Administration) Order 2009 (S.I. 2009/805), Sch. 1 Pts. 1, 3 (as amended (7.4.2010) by S.I. 2010/1189, arts. 1(2), 2)

Multiple transfers

152AF3Property transfer from transferred institution

1

This section applies where the Bank of England—

a

makes a resolution instrument that transfers securities issued by a bank (or a bank's parent undertaking), in accordance with section 12A(2), and

b

later makes a property transfer instrument from the bank or from another bank which is or was in the same group as the bank, in accordance with section 41A(2).

F21A

This section also applies where the Bank of England—

a

makes a share transfer instrument that transfers securities issued by a bank (or a bank's parent undertaking), in accordance with section 12(2), and

b

later makes a property transfer instrument from the bank in accordance with section 44D.

2

This Part applies to the transferor under the property transfer instrument made in accordance with section 41A(2) F1or 44D(2) as to the transferor under a property transfer instrument made in accordance with section 12(2).

3

For that purpose this Part applies with any modifications specified by the Treasury in regulations; and any regulations—

a

are to be made by statutory instrument, and

b

may not be made unless a draft has been laid before and approved by resolution of each House of Parliament.