The Northern Rock plc Transfer Order 2008
PART 1GENERAL
1Citation, commencement and interpretation
PART 2TRANSFER AND REGISTRATION OF SHARES AND EXTINGUISHMENT OF RIGHTS ETC
2Transfers
3Registration of shares and issue of certificates
4Extinguishment of rights in relation to shares
5Interest payments in relation to Tier 1 notes
6Conversion of foundation shares into ordinary shares etc.
7Minimum membership for carrying on business
PART 3MEETINGS, DIRECTORS AND PROCEEDINGS
8Resolutions and meetings
9Removal of directors
10Appointment of directors
11Proceedings against directors of Northern Rock
12Modification of rights in relevant instruments
PART 4DE-LISTING, APPROVAL ETC.
13De-listing
14Approved persons
PART 5AUTHORITY’S RULE-MAKING POWER
15Modification to Authority’s rule-making power
16Modification to Authority’s duty to consult on rule changes
PART 6MISCELLANEOUS
17Shadow directorship
18Northern Rock and freedom of information
19Notification requirement
20Modification of provision on liability in relation to Operator’s functions
SCHEDULESHADOW DIRECTORSHIP
1The following provisions of the 1985 Act—
2The following provisions of the 2006 Act—
3The following provisions of the Insolvency Act 1986—
4The following provisions of FSMA 2000— (a) section 96A (disclosure...

2008 No. 432

BANKS AND BANKING

The Northern Rock plc Transfer 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:

to protect the public interest, in circumstances where the Treasury have provided financial assistance1 to Northern Rock plc, being an authorised UK deposit-taker2, for the purpose of maintaining the stability of the UK financial system.

The Treasury, in exercise of the powers conferred by sections 3, 4, 12 and 13(2) of the Banking (Special Provisions) Act 20083, make the following Order: