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The Bank Recovery and Resolution Order 2016

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This is a draft item of legislation. This draft has since been made as a UK Statutory Instrument: The Bank Recovery and Resolution Order 2016 No. 1239

Onward and reverse transfers

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16.  In section 53(1) (onward and reverse transfers)(1)—

(a)after paragraph (zza) insert—

“(zzb)the Bank of England makes an onward share transfer instrument under section 26ZA,”;

(b)in paragraph (za) omit the words “private sector”;

(c)after paragraph (fa) insert—

“(fb)the Bank of England makes a bridge bank supplemental property transfer instrument under section 44D,

(fc)the Bank of England makes a bridge bank supplemental reverse property transfer instrument under section 44E,”.

(1)

Section 53(1) has been amended by section 97 of the Financial Services Act 2012 (c.21), paragraphs 1 and 6 of Schedule 2 to the Financial Services (Banking Reform) Act 2013 and S.I. 2014/3329.

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