http://www.legislation.gov.uk/ukpga/2009/1/section/43Banking 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 431This section applies where the Bank of England has made a property transfer instrument in respect of a resolution company in accordance with section 12(2) or 12ZA(3) (“the original instrument”).2The Bank of England may make one or more onward property transfer instruments.3An onward property transfer instrument is a property transfer instrument which—aprovides for property, rights or liabilities of the resolution company to be transferred (whether accruing or arising before or after the original instrument);bmakes other provision for the purposes of, or in connection with, the transfer of property, rights or liabilities of the resolution company (whether the transfer has been or is to be effected by that instrument, by another property transfer instrument or otherwise).4An onward property transfer instrument may relate to property, rights or liabilities of the resolution company whether or not they were transferred under the original instrument.5An onward property transfer instrument may not transfer property, rights or liabilities to the transferor under the original instrument.6Sections 7, 8, 8ZA and 52 do not apply to an onward property transfer instrument (but for other purposes it is to be treated in the same way as any other property transfer instrument, including for the purposes of the application of a power under this Part).7Before making an onward property transfer instrument the Bank of England must consult—athe PRA,aathe FCA, andbthe Treasury.8Section 42 applies where the Bank of England has made an onward property transfer instrument.S. 43 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. 43(7)(a)(aa) substituted for s. 43(7)(a) (1.4.2013) by Financial Services Act 2012 (c. 21), s. 122(3), Sch. 17 para. 22 (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. 43(1) substituted (1.1.2015) by The Bank Recovery and Resolution Order 2014 (S.I. 2014/3329), arts. 1(2), 43(2)(a)Words in s. 43(1) inserted (1.1.2015) by The Bank Recovery and Resolution Order 2014 (S.I. 2014/3329), arts. 1(2), 43(2)(b)Words in s. 43(3) substituted (1.1.2015) by The Bank Recovery and Resolution Order 2014 (S.I. 2014/3329), arts. 1(2), 43(3)Words in s. 43(4) substituted (1.1.2015) by The Bank Recovery and Resolution Order 2014 (S.I. 2014/3329), arts. 1(2), 43(4)Word in s. 43(6) inserted (1.1.2015) by The Bank Recovery and Resolution Order 2014 (S.I. 2014/3329), arts. 1(2), 43(5)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