Part 1Special Resolution Regime
Chapter 3 Special resolution action
Compensation
52Transfer to F1resolution company
F2(1)
This section applies if the Bank of England makes—
(a)
a share transfer instrument or a property transfer instrument under section 12(2), or
(b)
a property transfer instrument under section 12ZA(3).
(2)
The Treasury shall make a resolution fund order.
(3)
An order made by virtue of subsection (2) may include—
(a)
a compensation scheme order;
(b)
a third party compensation order (which may, in particular, make provision, in respect of F3persons of a specified description, for rights in addition to any rights they may have by virtue of the resolution fund order).
(4)
In the case of a partial property transfer, the resolution fund order must include a third party compensation order.