Chwilio Deddfwriaeth

Ulster Bank Act 1992

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11Evidence of transfer and vesting

(1)The production of a Queen’s Printer’s copy of this Act shall, for all purposes, be conclusive evidence of the transfer of any property and liabilities of the Trust Company to the Bank, and of the vesting thereof in the Bank, in accordance with the provisions of this Act.

(2)Without prejudice to the generality of subsection (1) above, any such copy of this Act shall, in relation to any registered securities within the meaning of the [1963 c. 24 (N.I.).] Stock Transfer Act (Northern Ireland) 1963 transferred to, and vested in, the Bank by virtue of this Act, operate for all the purposes of the said Act of 1963 as a duly executed stock transfer in respect of the transfer of such securities from the Trust Company to the Bank.

(3)Without prejudice to the generality of subsection (1) above—

(a)any document made or executed on or after the appointed day whereby the Bank, whether alone or jointly with any other person, conveys or transfers, or purports to convey or transfer, to any person (whether for consideration or not), or applies to be registered as the holder or proprietor of, any property held by the Trust Company immediately before the appointed day, whether alone or jointly with any other person, shall be sufficient evidence that the interest of the Trust Company in that property has been transferred to and vested in the Bank under this Act; and

(b)where there is any other transaction by the Bank on or after the appointed day in connection with, or in relation to, any property or liability which is property or a liability of the Trust Company immediately before the appointed day, it shall be deemed in favour of any other party to the transaction, or any person claiming through or under him, that the Bank has full power and authority for that transaction as if the property or liability had been transferred to and vested in it under this Act.

(4)Without prejudice to the generality of subsection (1) above—

(a)any document made or executed on or after the appointed day whereby the Trust Company, whether alone or jointly with any other person, conveys or transfers, or purports to convey or transfer, to any person (whether for consideration or not), or applies to be registered as the holder or proprietor of, any property held by it immediately before the appointed day, whether alone or jointly with any other person, shall be sufficient evidence that its interest in that property has not been transferred to and vested in the Bank under this Act; and

(b)where there is any other transaction by the Trust Company on or after the appointed day in connection with, or in relation to, any property or liability which is property or a liability of the Trust Company immediately before the appointed day, it shall be deemed in favour of any other party to the transaction, or any person claiming through or under him, that the Trust Company has full power and authority for that transaction as if the property or liability had not been transferred to and vested in the Bank under this Act.

(5)A joint certificate given by or on behalf of the Trust Company and the Bank, whether given before, on or after the appointed day, that any property or liability specified in the certificate will transfer and vest, or has transferred or vested, as the case may be, to and in the Bank, or will not transfer and vest, or has not transferred and vested, as the case may be, to and in the Bank, under this Act shall be conclusive evidence for all purposes of the fact so certified.

(6)Nothing in this section affects the liability of the Trust Company or the Bank to the other of them in respect of anything done, or purported to have been done, by either of them in connection with, or in relation to, any property or liabilities.

(7)In this section “convey” has the same meaning as in the [1881 c. 41.] Conveyancing Act 1881.

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