http://www.legislation.gov.uk/ukpga/2009/1/section/29Banking Act 2009An Act to make provision about banking.texttext/xmlenStatute Law Database2026-02-20Expert Participation2026-01-19 Banking Act 2009s. 4(8A) (8B)Financial Services Act 2012s. 96(3)Sch. 20s. 122(3)Banking Act 2009s. 8(2)(d) and wordFinancial Services Act 2012s. 96(4)(b)Sch. 20s. 122(3) Part 1Chapter 3 291This section applies where the Treasury have made a share transfer order in accordance with section 13(2) (“the original order”) providing for the transfer of securities issued by a bank to a person (“the original transferee”).2The Treasury may make one or more reverse share transfer orders in respect of securities issued by the bank and held by the original transferee (whether or not they were transferred by the original order).3If the Treasury makes an onward share transfer order in respect of securities transferred by the original order, the Treasury may make one or more reverse share transfer orders in respect of securities issued by the bank and held by a transferee under the onward share transfer order (“the onward transferee”). 4A reverse share transfer order is a share transfer order which—aprovides for transfer to the transferor under the original order (where subsection (2) applies);bprovides for transfer to the original transferee (where subsection (3) applies);cmakes other provision for the purposes of, or in connection with, the transfer of securities which are, could be or could have been transferred under paragraph (a) or (b).4AThe Treasury must not make a reverse share transfer order under subsection (3) unless—athe onward transferee is—ia company wholly owned by the Bank of England,iia company wholly owned by the Treasury, oriiia nominee of the Treasury, orbthe reverse share transfer order is made with the written consent of the onward transferee.5Sections 7, 9 and 51 do not apply to a reverse share transfer order (but it is to be treated in the same way as any other share transfer order for all other purposes including for the purposes of the application of a power under this Part).6Before making a reverse share transfer order the Treasury must consult—athe PRA,aathe FCA, andbthe Bank of England.7Section 27 applies where the Treasury have made a reverse share transfer order.S. 29 in force at 21.2.2009 in so far as not already in force by S.I. 2009/296, arts. 2, 3, Sch. para. 1Pt. 1 restricted (7.1.2010) by Banking Act 2009 (Exclusion of Insurers) Order 2010 (S.I. 2010/35), arts. 1, 2S. 29 in force at 17.2.2009 for specified purposes by S.I. 2009/296, arts. 2, 3, Sch. para. 1S. 29(4A) inserted (1.4.2013) by Financial Services Act 2012 (c. 21), ss. 97(3)(b), 122(3) (with Sch. 20); S.I. 2013/423, art. 3, Sch.Words in s. 29(3) substituted (1.4.2013) by Financial Services Act 2012 (c. 21), ss. 97(3)(a), 122(3) (with Sch. 20); S.I. 2013/423, art. 3, Sch.S. 29(6)(a)(aa) substituted for s. 29(6)(a) (1.4.2013) by Financial Services Act 2012 (c. 21), s. 122(3), Sch. 17 para. 17 (with Sch. 20); S.I. 2013/423, art. 3, Sch.Pt. 1: power to amend conferred (1.3.2014) by Financial Services (Banking Reform) Act 2013 (c. 33), ss. 17(3)(f), 148(5); S.I. 2014/377, art. 2(1)(b), Sch. Pt. 2Pt. 1 Ch. 3 formed from ss. 4-83 (1.1.2015) by The Bank Recovery and Resolution Order 2014 (S.I. 2014/3329), arts. 1(2), 7Word in s. 29 heading inserted (16.12.2016) by The Bank Recovery and Resolution Order 2016 (S.I. 2016/1239), arts. 1(2), 10(2)