The Bradford & Bingley plc Transfer of Securities and Property etc. Order 2008

Modification to Authority’s duty to consult on rule changes

This sectionnoteType=Explanatory Memorandum has no associated

38.  (1)  Section 155(7) of the 2000 Act (consultation) has effect as if modified by adding at the end—

or if it is making rules for the purposes of, or to facilitate or in consequence of, a transfer under section 3 or 8 of the Banking (Special Provisions) Act 2008.

(2) Section 157 of the 2000 Act (guidance) has effect as if modified by adding after subsection (3)—

(3A) Section 155(7) applies to proposed guidance as it applies to proposed rules with the modification made by article 39(1) of the Bradford & Bingley plc Transfer of Securities and Property etc. Order 2008..