Search Legislation

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

 Help about what version

What Version

  • Latest available (Revised)
  • Original (As made)

Status:

This is the original version (as it was originally made). This item of legislation is currently only available in its original format.

PART 1 F4GENERAL

Textual Amendments applied to the whole legislation

Citation and commencement

1.—(1) This Order may be cited as the Heritable Bank plc Transfer of Certain Rights and Liabilities Order 2008.

(2) This Order comes into force at 9.30 a.m. on 7 October 2008.

Interpretation

2.  In this Order—

the Act” means the Banking (Special Provisions) Act 2008;

the 1986 Act” means the Insolvency Act 1986 F1;

the 2000 Act” means the Financial Services and Markets Act 2000 F2;

administrator” means—

(a)

an administrator appointed under paragraph 14 or 22 of Schedule B1 (Administration) to the 1986 Act F3 or on an administration application made to the court (and if more than one administrator is appointed, the reference to “the administrator” is to any administrator so appointed); or

(b)

any person on whom a discretion is conferred under an interim order made under paragraph 13(1)(d) of Schedule B1 to the 1986 Act;

the Authority” means the Financial Services Authority;

the Bank” means the Bank of England;

Community law” means—

(c)

all the rights, powers, liabilities, obligations and restrictions from time to time created or arising by or under the Community Treaties; and

(d)

all the remedies and procedures from time to time provided for by or under the Community Treaties;

the COMP Sourcebook” means the Compensation Sourcebook made by the Authority under the 2000 Act;

Deposits Management (Heritable)” means Deposits Management (Heritable) Limited, company registered number 6690442, a company which is for the purposes of the Act wholly owned by the Treasury;

the effective time” means the time this Order comes into force;

eligible claimant” has the meaning given in rule 4.2.1 of the COMP Sourcebook;

the FEES 6 Chapter” means Chapter 6 (Financial Services Compensation Scheme Funding) of the Fees Manual made by the Authority under the 2000 Act;

the Financial Services Compensation Scheme” means the scheme established by the Authority under Part 15 of the 2000 Act (The Financial Services Compensation Scheme);

FSCS” means the body corporate established by the Authority under section 212 of the 2000 Act (the Scheme Manager);

Heritable” means Heritable Bank plc, company registered in Scotland number SC000717;

protected deposit” has the meaning given in rule 5.3.1 of the COMP Sourcebook;

relevant protected deposit” means a protected deposit which relates to a transferred account;

the transfer” means the transfer effected by article 3;

transferred accounts” means the accounts to which the transferred rights and liabilities relate;

transferred liabilities” means the liabilities transferred by article 3(1);

transferred rights” means the rights transferred by article 3(2);

the transitional period” means the period of 6 months following the effective time.

Textual Amendments

F3Schedule B1 was inserted by section 248(2) of, and Schedule 16 to, the Enterprise Act 2002 (c.40).

Back to top

Options/Help

Print Options

Close

Legislation is available in different versions:

Latest Available (revised):The latest available updated version of the legislation incorporating changes made by subsequent legislation and applied by our editorial team. Changes we have not yet applied to the text, can be found in the ‘Changes to Legislation’ area.

Original (As Enacted or Made): The original version of the legislation as it stood when it was enacted or made. No changes have been applied to the text.

Close

Opening Options

Different options to open legislation in order to view more content on screen at once

Close

Explanatory Memorandum

Explanatory Memorandum sets out a brief statement of the purpose of a Statutory Instrument and provides information about its policy objective and policy implications. They aim to make the Statutory Instrument accessible to readers who are not legally qualified and accompany any Statutory Instrument or Draft Statutory Instrument laid before Parliament from June 2004 onwards.

Close

More Resources

Access essential accompanying documents and information for this legislation item from this tab. Dependent on the legislation item being viewed this may include:

  • the original print PDF of the as enacted version that was used for the print copy
  • lists of changes made by and/or affecting this legislation item
  • confers power and blanket amendment details
  • all formats of all associated documents
  • correction slips
  • links to related legislation and further information resources
Close

More Resources

Use this menu to access essential accompanying documents and information for this legislation item. Dependent on the legislation item being viewed this may include:

  • the original print PDF of the as made version that was used for the print copy
  • correction slips

Click 'View More' or select 'More Resources' tab for additional information including:

  • lists of changes made by and/or affecting this legislation item
  • confers power and blanket amendment details
  • all formats of all associated documents
  • links to related legislation and further information resources