[F148ACreation of liabilitiesU.K.
(1)The provision that may be made by a property transfer instrument or order in reliance on section 33(1)(b), 42(3)(b), [F242A(3)(b),] 43(3)(b), 44(4)(c)[F3, 44A(3)(b)], [F444D(3)(b), 44E(3)(b),] 45(3)(b) or 46(3)(b) includes provision for the creation of liabilities.
(2)The provision may be framed by reference to an agreement which has been or is to be entered into, or anything else which has been or is to be done, by any person (including a person other than the person making the instrument or order).]
Textual Amendments
F1S. 48A inserted (8.4.2010) by Financial Services Act 2010 (c. 28), ss. 21(2), 26(1)(f)
F2Words in s. 48A(1) inserted (1.4.2013) by Financial Services Act 2012 (c. 21), ss. 97(8), 122(3) (with Sch. 20); S.I. 2013/423, art. 3, Sch.
F3Word in s. 48A(1) inserted (31.12.2014) by Financial Services (Banking Reform) Act 2013 (c. 33), s. 148(5), Sch. 2 para. 5(4); S.I. 2014/3160, art. 2(1)(b)
F4Words in s. 48A(1) inserted (16.12.2016) by The Bank Recovery and Resolution Order 2016 (S.I. 2016/1239), arts. 1(2), 13(2)