51Transfer to temporary public ownershipU.K.
(1)This section applies if the Treasury make a share transfer order in accordance with section 13(2).
(2)The Treasury shall make either—
(a)a compensation scheme order, or
(b)a resolution fund order.
(3)A resolution fund order made by virtue of subsection (2)(b) may include—
(a)a compensation scheme order;
(b)a third party compensation order (which may, in particular, make provision, in respect of specified classes of creditor, for rights in addition to any rights they may have by virtue of the resolution fund order).
(4)A compensation scheme order made by virtue of subsection (2) may include a third party compensation order.
Commencement Information
I1S. 51 in force at 17.2.2009 for specified purposes by S.I. 2009/296, arts. 2, 3, Sch. para. 1
I2S. 51 in force at 21.2.2009 in so far as not already in force by S.I. 2009/296, arts. 2, 3, Sch. para. 1