http://www.legislation.gov.uk/ukpga/2009/1/section/44BBanking 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 44B1A property transfer instrument within subsection (2) may make special bail-in provision with respect to the bank (see section 48B) .2The instruments referred to in subsection (1) are—aa property transfer instrument under section 11(2), 12(2), 12ZA(3) or 41A(2),ba supplemental property transfer instrument under section 42 in relation to which the original instrument is—ia property transfer instrument under section 11(2), 12(2), 12ZA(3) or 41A(2),iian onward property transfer instrument under section 43(2), oriiia bridge bank supplemental property transfer instrument under section 44D(2),can onward property transfer instrument under section 43(2), orda bridge bank supplemental property transfer instrument under section 44D(2).3In the case of—aa property transfer instrument under section 12(2) or 12ZA(3),ba supplemental property transfer instrument under section 42 in relation to which the original instrument is—ia property transfer instrument under section 12(2) or 12ZA(3),iian onward property transfer instrument under section 43(2), oriiia bridge bank supplemental property transfer instrument under section 44D(2),can onward property transfer instrument under section 43(2), orda bridge bank supplemental property transfer instrument under section 44D(2),the power under subsection (1) to make the provision described in section 48B(1)(b) (see also rule 3(a) and (b) of section 48B(5)) includes power to make the provision referred to in subsection (3A).3AThe provision referred to in subsection (3) is provision replacing a liability (of any form)—aof the bank, in the case of the instruments within subsection (3)(a) and (b)(i),bof the resolution company mentioned in section 43(1), in the case of the instruments within subsections (3)(b)(ii) and (c), orcof the bridge bank mentioned in section 44D(1), in the case of the instruments within subsections (3)(b)(iii) and (d),with a relevant security (of any form or class).3BThe following are relevant securities for the purpose of subsection (3A)—ain any case, a security of the bank,bwhere the instrument within subsection (3)(a), or the original instrument, is made under section 12, a security of the bridge bank mentioned in section 12(1),cwhere the instrument within subsection (3)(a), or the original instrument, is made under section 12ZA, a security of the asset management vehicle mentioned in section 12ZA(1).3CIn subsection (3B) references to the original instrument are—ain relation to an instrument within subsection (3)(b), the original instrument referred to in that paragraph,bin relation to an instrument within subsection (3)(c), the original instrument as defined in section 43(1),cin relation to an instrument with subsection (3)(d), the original instrument as defined in section 44D(1).4Where securities of the bridge bank or asset management vehicle (“B”) are, as a result of subsection (3), held by a person other than the Bank of England, that does not prevent B from being regarded for the purposes of this Part (see particularly section 12(1A) and 12ZA(2)) as being wholly owned by the Bank of England, as long as the Bank of England is entitled to exercise, or control the exercise of, voting rights in respect of all the ordinary shares issued by B.Pt. 1 restricted (7.1.2010) by Banking Act 2009 (Exclusion of Insurers) Order 2010 (S.I. 2010/35), arts. 1, 2Pt. 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. 2Ss. 44A-44C inserted (31.12.2014) by Financial Services (Banking Reform) Act 2013 (c. 33), s. 148(5), Sch. 2 para. 5(3); S.I. 2014/3160, art. 2(1)(b)Words in s. 44B(4) substituted (1.1.2015) by The Bank Recovery and Resolution Order 2014 (S.I. 2014/3329), arts. 1(2), 46(5)(a)Words in s. 44B(4) substituted (1.1.2015) by The Bank Recovery and Resolution Order 2014 (S.I. 2014/3329), arts. 1(2), 46(5)(b)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), 7S. 44B(1)-(3C) substituted for s. 44B(1)-(3) (16.12.2016) by The Bank Recovery and Resolution Order 2016 (S.I. 2016/1239), arts. 1(2), 11(2)Words in s. 44B(4) inserted (16.12.2016) by The Bank Recovery and Resolution Order 2016 (S.I. 2016/1239), arts. 1(2), 11(3)