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Banking Act 2009

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Changes over time for: Section 26

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Point in time view as at 31/12/2020.

Changes to legislation:

Banking Act 2009, Section 26 is up to date with all changes known to be in force on or before 18 November 2024. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations. Help about Changes to Legislation

26Supplemental instrumentsU.K.
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(1)This section applies where the Bank of England has made a share transfer instrument in accordance with section 11(2) [F1or 12(2)] (“the original instrument”).

(2)The Bank of England may make one or more supplemental share transfer instruments.

(3)A supplemental share transfer instrument is a share transfer instrument which—

(a)provides for the transfer of securities which were issued by the bank before the original instrument and have not been transferred by the original instrument or another supplemental share transfer instrument;

(a)makes provision of a kind that a share transfer instrument may make under section 15(1)(b) (whether or not in connection with a transfer under the original instrument).

(4)Sections 7 and 8 do not apply to a supplemental share transfer instrument (but it is to be treated in the same way as any other share transfer instrument for all other purposes, including for the purposes of the application of a power under this Part).

(5)Before making a supplemental share transfer instrument the Bank of England must consult—

[F2(a)the PRA,

(aa)the FCA, and]

(b)the Treasury.

(6)The possibility of making a supplemental share transfer instrument in reliance on subsection (2) is without prejudice to the possibility of making of a new instrument in accordance with section 11(2) [F3or 12(2)] (and not in reliance on subsection (2) above).

Textual Amendments

F2S. 26(5)(a)(aa) substituted for s. 26(5)(a) (1.4.2013) by Financial Services Act 2012 (c. 21), s. 122(3), Sch. 17 para. 14 (with Sch. 20); S.I. 2013/423, art. 3, Sch.

Commencement Information

I1S. 26 in force at 21.2.2009 by S.I. 2009/296, art. 3, Sch. para. 1

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