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The Bank Recovery and Resolution Order 2014

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Draft Legislation:

This is a draft item of legislation. This draft has since been made as a UK Statutory Instrument: The Bank Recovery and Resolution Order 2014 (revoked) No. 3329

Property transfer instrument: procedure

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40.—(1) Section 41 (procedure)(1) is amended as follows.

(2) In subsection (2) omit the “and” after paragraph (a) and after paragraph (b) insert—

“, and

(c)if securities issued by the bank have been admitted to trading on a regulated market (within the meaning of section 103(1) of the Financial Services and Markets Act 2000), by means of a regulatory information service (within the meaning of section 313D(2) of that Act),

and arrange for the publication of a copy on the internet website of the bank in respect of which the instrument was made.”.

(3) After subsection (3) insert—

“(4) In this section references to a “bank” include a resolution company even if it is not a bank.”.

(1)

Section 41 was amended by paragraph 20 of Schedule 17 to the Financial Services Act 2012 (c.21).

(2)

Section 313D was inserted into the Financial Services and Markets Act 2000 by SI 2007/126. The definition of “regulatory information service” was inserted by SI 2010/1193.

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