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Alliance & Leicester (Girobank) Act 1993

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4Scheme for apportionment of certain assets and liabilities

Before any day is appointed under section 3 (Appointed day) of this Act the directors of Alliance & Leicester and of Girobank shall in consultation with the Bank of England and the Building Societies Commission agree a scheme for the apportionment of those assets and liabilities of Girobank representing the value of cleared balances and supporting the value of those balances—

(a)between the personal accounts and the remainder of Girobank;

(b)if different days are to be appointed for different parts of the personal bank, between those parts.

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