11(1)Sub-paragraph (2) applies to anything that—U.K.
(a)is done (or has effect as if done) by or in relation to the company for the purposes of, or otherwise in connection with, a transferred function or transferred property, and
(b)is in effect immediately before the function or property is transferred.
(2)Anything to which this sub-paragraph applies is to be treated, so far as is appropriate in consequence of the transfer, as done by or in relation to the Bank, in its capacity as the Prudential Regulation Authority.
Commencement Information
I1Sch. 3 para. 11 in force at 1.3.2017 by S.I. 2017/43, reg. 2(h)