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The Bradford & Bingley plc Compensation Scheme Order 2008
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Transfer of Bradford & Bingley shares
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3.—(1) The amount of any compensation payable by the Treasury to persons who held shares in Bradford & Bingley immediately before they were transferred by the Transfer Order shall be determined in accordance with this paragraph.
(2) The amount of compensation payable to a person shall be an amount equal to the value immediately before the transfer time of all shares in Bradford & Bingley held immediately before the transfer time by that person.
(3) For the purposes of this Scheme, the holders of shares in Bradford & Bingley, and the class and number of shares held by them, shall be identified by reference to—
(a)the Operator register of members of Bradford & Bingley; and
(b)the issuer register of members of Bradford & Bingley,
following the reconciliation required by article 4(4) of the Transfer Order.
(4) In sub-paragraph (3) “issuer register of members” and “Operator register of members” have the meanings given in the Uncertificated Securities Regulations 2001(1).
(1)
S.I. 2001/3755; there are amending instruments but none is relevant.
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