This is the original version (as it was originally made). This item of legislation is currently only available in its original format.
(This note is not part of the Regulations)
These Regulations modify Part 3 of the Banking Act 2009 (c.1) (“the Act”), which sets out the bank administration procedure.
Regulation 2 specifies that these Regulations make modifications to Part 3 of the Act as applied by section 152 of the Act (property transfer from temporary public ownership). Section 152 applies bank administration where the Treasury make a share transfer order in respect of the securities issued by a bank (or a bank’s holding company), in accordance with section 13(2) of the Act (temporary public ownership), and later make a property transfer order from the bank (or from a bank the parent of which is the bank’s holding company) under section 45(2) of the Act (temporary public ownership: property transfer).
Regulations 3 and 4 set out general modifications to Part 3 of the Act and to Tables 1 and 2 of section 145 of the Act (general powers, duties and effect).
The Schedule to the Regulations sets out specific modifications to Part 3 of the Act.
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