The Kaupthing Singer & Friedlander Limited Transfer of Certain Rights and Liabilities Order 2008
PART 1GENERAL
1Citation and commencement
2Interpretation
PART 2THE FIRST TRANSFER
3The first transfer
4No consent or concurrence required
5Associated liability and interference
6Interests, rights and liabilities of third parties relating to transferred rights and liabilities
7Exemption of Deposits Management (Edge)
PART 3THE SECOND TRANSFER
8The second transfer
9Provision of information and assistance
10No consent or concurrence required
11Associated liability and interference
12Interests, rights and liabilities of third parties relating to transferred rights and liabilities
PART 4FINANCIAL SERVICES COMPENSATION SCHEME
13Application of Part 3
14Sums to be paid to ING following the second transfer
15Payment to ING to constitute payment of compensation for the purposes of the Financial Services Compensation Scheme
16Liability of Kaupthing to the FSCS and the Treasury
17FSCS’s power to require information
18Statutory immunity
PART 5THE ADMINISTRATOR AND TRANSITIONAL PROVISIONS
19Application of this Part
20The administration
21Objectives etc. of the administrator
22Insolvency Act and Insolvency Rules etc.
23Services and facilities
24Use of the Kaupthing brand
25Compensation payable to Kaupthing
26Continuity
27Moratorium on payment to related companies
PART 6MISCELLANEOUS
28Construction of documents etc.
29Modification to Authority’s rule-making power
30Modification to Authority’s duty to consult on rule changes
31Freedom of information
32Proceedings against directors
33Immunity of Bank
34Transfer of data
SCHEDULESERVICES AND FACILITIES
1Website hosting services or facilities.
2Information technology services or facilities.
3Back office processing services or facilities.
4Call centre services or facilities.
5Payment and clearing services or facilities.

2008 No. 2674

BANKS AND BANKING

The Kaupthing Singer & Friedlander Limited Transfer of Certain Rights and Liabilities Order 2008

Made

Laid before Parliament

Coming into force

It appears to the Treasury to be desirable to make this Order for the following purpose:

maintaining the stability of the UK financial system in circumstances where the Treasury consider that there would be a serious threat to its stability if the Order were not made.

The Treasury, in exercise of the powers conferred by sections 6, 8, 12, 13(2) of and Schedule 2 to the Banking (Special Provisions) Act 20081, make the following Order: