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.