PART 1GENERAL
Citation and commencement1
1
This Order may be cited as the Transfer of Rights and Liabilities to ING Order 2008.
2
This Order comes into force at 10.10 a.m. on 8th October 2008.
Interpretation: general2
In this Order—
“the 2000 Act” means the Financial Services and Markets Act 20002;
“the Act” means the Banking (Special Provisions) Act 2008;
“the Authority” means the Financial Services Authority;
“the Companies Acts” has the meaning given by section 2 of the Companies Act 20063;
“Deposits Management (Heritable)” means Deposits Management (Heritable) Limited, company registered number 6690442, a company which is for the purposes of the Act wholly owned by the Treasury;
“the effective time” means the time this Order comes into force;
“the Financial Services Compensation Scheme” means the scheme established by the Authority under Part 15 (the financial services compensation scheme) of the 2000 Act;
“the first Order” means the Heritable Bank plc Transfer of Certain Rights and Liabilities Order 20084;
“FSCS” means the body corporate established by the Authority under section 212 (the scheme manager) of the 2000 Act;
“Heritable” means Heritable Bank plc, company registered in Scotland number SC000717;
“ING” means ING Direct N.V., incorporated in the Netherlands and acting through its branch in the United Kingdom, branch reference number BR 7357;
“the transfer” means the transfer effected under article 3(1);
“the transitional period” means the period of 6 months beginning with the date of this Order.