1.—(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.
2. In this Order—
“the 2000 Act” means the Financial Services and Markets Act 2000(1);
“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 2006(2);
“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 2008(3);
“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.