This Scheme may be cited as the Bradford & Bingley plc Compensation Scheme.

In this Scheme—

• “the Act” means the Banking (Special Provisions) Act 2008;

• “assessment notice” means a notice issued under paragraph 10;

• “Bradford & Bingley” means Bradford & Bingley plc, company registered number 3938288;

• “revised assessment notice” means a notice issued under paragraph 11;

• “shares in Bradford & Bingley” means the ordinary shares issued by Bradford &Bingley;

• “the Transfer Order” means the Bradford & Bingley plc Transfer of Securities and Property etc. Order 20082;

• “the transfer time” means 8.00 a.m. on 29th September 2008;

• “the Tribunal” means the Financial Services and Markets Tribunal;

• “valuer” means the independent valuer appointed by the Treasury in accordance with paragraph 6.