The Heritable Bank plc Transfer of Certain Rights and Liabilities Order 2008

  1. Introductory Text

  2. PART 1 GENERAL

    1. 1.Citation and commencement

    2. 2.Interpretation

  3. PART 2 THE TRANSFER

    1. 3.Transfer

    2. 4.No consent or concurrence required

    3. 5.Associated liability and interference

    4. 6.Interests, rights and liabilities of third parties relating to transferred rights and liabilities

    5. 7.Payment of transferred liabilities

    6. 8.Construction of documents etc.

    7. 9.Validity of acts done by Deposits Management (Heritable)

    8. 10.Exemption of Deposits Management (Heritable) Limited

    9. 11.Provision of information and assistance

  4. PART 3 FINANCIAL SERVICES COMPENSATION SCHEME

    1. 12.Application of Part 3

    2. 13.Sums to be paid to Deposits Management (Heritable) following the transfer

    3. 14.Payment to Deposits Management (Heritable) to constitute payment of compensation for the purposes of the Financial Services Compensation Scheme

    4. 15.Liability of Heritable to the FSCS and the Treasury

    5. 16.FSCS’s power to require information

    6. 17.Statutory immunity

  5. PART 4 THE ADMINISTRATOR AND TRANSITIONAL PROVISIONS

    1. 18.Application of this Part

    2. 19.The administration

    3. 20.Objectives etc. of the administrator

    4. 21.Insolvency rules etc.

    5. 22.Use of the Heritable brand

    6. 23.Compensation payable to Heritable

    7. 24.Continuity

    8. 25.Financial Ombudsman Scheme

  6. PART 5 MISCELLANEOUS

    1. 26.Shadow directorship

    2. 27.Modification to Authority’s rule-making power

    3. 28.Modification to Authority’s duty to consult on rule changes

    4. 29.Freedom of information

    5. 30.Proceedings against directors

    6. 31.Notification requirement

    7. 32.Transfer of data

  7. Signature

    1. SCHEDULE 1

      SERVICES AND FACILITIES

      1. 1.Website hosting services or facilities.

      2. 2.Information technology services or facilities.

      3. 3.Back office processing services or facilities.

      4. 4.Call centre services or facilities.

      5. 5.Payment and clearing services or facilities.

    2. SCHEDULE 2

      SHADOW DIRECTORSHIP

      1. 1.The following provisions of the Companies Act 1985-

      2. 2.The following provisions of the Companies Act 2006—

      3. 3.The following provisions of the Insolvency Act 1986—

      4. 4.The following provisions of the 2000 Act—

  9. Explanatory Note