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Barclays Group Reorganisation Act 2002

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Barclays Group Reorganisation Act 2002

2002 CHAPTER iv

An Act to provide for the reorganisation of the undertakings of Barclays Bank PLC and certain of its subsidiaries; and for related purposes.

[7th November 2002]

Whereas—

(1)

Barclays Bank PLC (hereinafter called “Barclays”) is a public limited company registered in England and Wales under the Companies Acts 1948 to 1967 which carries on in the United Kingdom and elsewhere the businesses of banking and financial services and other related activities:

(2)

Barclays has subsidiaries which carry on in the United Kingdom and elsewhere the businesses of banking and financial services and other related activities:

(3)

For the better conduct of the businesses of Barclays and its subsidiaries it is expedient that provision be made for the transfer to and vesting in Barclays of the undertakings or part of the undertakings of certain of its subsidiaries, and the transfer to and vesting in certain of Barclays' subsidiaries of the undertakings or part of the undertakings of Barclays or of certain other Barclays' subsidiaries and that the transfers should be effected economically and without interference with the conduct and continuity of those businesses carried on by Barclays or its subsidiaries:

(4)

It is expedient that the other provisions in this Act should be enacted:

(5)

The objects of this Act could not have been attained without the authority of Parliament when the Bill for this Act was deposited:

May it therefore please Your Majesty that it may be enacted, and be it enacted, by the Queen’s most Excellent Majesty, by and with the advice and consent of the Lords Spiritual and Temporal, and Commons, in this present Parliament assembled, and by the authority of the same, as follows:—

Yn ôl i’r brig

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