An Act to provide for the vesting in Alliance & Leicester Building Society of part of the undertaking of Girobank plc; and for other purposes.
[29th March 1993]
WHEREAS—
(1)Alliance & Leicester Building Society (hereinafter called “Alliance & Leicester”) is a building society incorporated under the [1986 c. 53.] Building Societies Act 1986:
(2)Girobank plc (hereinafter called “Girobank”) is a public company within the meaning of the [1985 c. 6.] Companies Act 1985, being a company limited by shares:
(3)Girobank as a wholly owned subsidiary of Alliance & Leicester is an authorised institution under the [1987 c. 22.] Banking Act 1987 and carries on the business of banking in the United Kingdom and elsewhere:
(4)For the better conduct of the business of Girobank and Alliance & Leicester, it is expedient that provision be made for the partial fusion of undertakings by which that business is carried on by vesting in Alliance & Leicester the personal banking undertaking of Girobank and that that fusion of undertakings should be effected without interference with the conduct and continuity of that business:
(5)It is expedient that the other provisions in this Act should be enacted:
(6)The objects of this Act cannot be attained without the authority of Parliament:
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:—