http://www.legislation.gov.uk/ukpga/2009/1/section/42Banking 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 421This section applies where the Bank of England has made a property transfer instrument in accordance with section 11(2) or 12(2), 12ZA(3) or 41A(2) (“the original instrument”).2The Bank of England may make one or more supplemental property transfer instruments.3A supplemental property transfer instrument is a property transfer instrument which—aprovides for property, rights or liabilities to be transferred from the transferor under the original instrument (whether accruing or arising before or after the original instrument);bmakes other provision of a kind that an original property transfer instrument may make under section 33(1)(b) (whether in connection with a transfer under the original instrument or in connection with a transfer under that or another supplemental instrument).4Sections 7, 8 and 8ZA do not apply to a supplemental property transfer instrument (but it is to be treated in the same way as any other property transfer instrument for all other purposes, including for the purposes of the application of a power under this Part).5Before making a supplemental property transfer instrument the Bank of England must consult—athe PRA,aathe FCA, andbthe Treasury.6The possibility of making a supplemental property transfer instrument in reliance on subsection (2) is without prejudice to the possibility of making of a new instrument in accordance with section 11(2), 12(2), 12ZA(3) or 41A(2) (and not in reliance on subsection (2) above).S. 42 in force at 21.2.2009 by S.I. 2009/296, art. 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. 42(5)(a)(aa) substituted for s. 42(5)(a) (1.4.2013) by Financial Services Act 2012 (c. 21), s. 122(3), Sch. 17 para. 21 (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. 2Words in s. 42(1) substituted (31.12.2014) by Financial Services (Banking Reform) Act 2013 (c. 33), s. 148(5), Sch. 2 para. 5(2)(a); S.I. 2014/3160, art. 2(1)(b)Words in s. 42(4) substituted (31.12.2014) by Financial Services (Banking Reform) Act 2013 (c. 33), s. 148(5), Sch. 2 para. 5(2)(b); S.I. 2014/3160, art. 2(1)(b)Words in s. 42(6) substituted (31.12.2014) by Financial Services (Banking Reform) Act 2013 (c. 33), s. 148(5), Sch. 2 para. 5(2)(c); S.I. 2014/3160, art. 2(1)(b)Words in s. 42(1) inserted (1.1.2015) by The Bank Recovery and Resolution Order 2014 (S.I. 2014/3329), arts. 1(2), 42(2)Word in s. 42(4) substituted (1.1.2015) by The Bank Recovery and Resolution Order 2014 (S.I. 2014/3329), arts. 1(2), 42(3)Words in s. 42(6) inserted (1.1.2015) by The Bank Recovery and Resolution Order 2014 (S.I. 2014/3329), arts. 1(2), 42(4)Pt. 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), 7