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There are currently no known outstanding effects for the The Banking Act 2009 (Third Party Compensation Arrangements for Partial Property Transfers) Regulations 2009, Section 1.
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1.—(1) These Regulations may be cited as the Banking Act 2009 (Third Party Compensation Arrangements for Partial Property Transfers) Regulations 2009.
(2) These Regulations come into force on 21st February 2009.
(3) In these Regulations—
“the Act” means the Banking Act 2009;
“the Bank” means the Bank of England;
“banking institution” means—
a bank (within the meaning of Part 1 of the Act M1);
[F1an investment firm;]
a building society (within the meaning of section 119 of the Building Societies Act 1986 M2); F2...
a third-country institution (within the meaning of section 89JA of the Act (resolution of UK branches of third-country institutions));]
“relevant time” means—
in relation to Case 1 (as specified in regulation 2(2)), the time at which the partial property transfer M3 took effect;
in relation to Case 2 (as specified in regulation 2(3)), the time at which the property transfer instrument made in accordance with section 11(2) or 12(2) of the Act took effect;
in relation to Case 3 (as specified in regulation 2(4)), the time at which the share transfer order made in accordance with section 13(2) of the Act F5... took effect;
[F6in relation to Case 4 (as specified in regulation 2(4A)), the time at which the resolution instrument made in accordance with section 12A(2) of the Act took effect;
in relation to Case 5 (as specified in regulation 2(4B)), the time at which the third-country instrument made in section 89H(2)(a) or (c) of the Act took effect;]
[F7in relation to Case 6 (as specified in regulation 2(4C)), the time at which the share transfer instrument made in accordance with section 12(2) of the Act took effect;]
“third party compensation order in relation to a partial property transfer” has the meaning given in regulation 3(2).
[F8(4) References in this Order to sections of the Banking Act 2009 include, as the context requires, references to those provisions as applied with or without modifications by that Act, as that Act has effect on the day on which the Bank Recovery and Resolution Order 2016 comes into force.]
Textual Amendments
F1Words in reg. 1(3) inserted (1.8.2014) by The Banking Act 2009 (Third Party Compensation Arrangements for Partial Property Transfers) (Amendment) Regulations 2014 (S.I. 2014/1830), regs. 1, 2
F2Word in reg. 1(3) omitted (16.12.2016) by virtue of The Bank Recovery and Resolution Order 2016 (S.I. 2016/1239), arts. 1(2), 38(2)(a)(i)
F3Words in reg. 1(3) substituted (1.1.2015) by The Bank Recovery and Resolution Order 2014 (S.I. 2014/3329), arts. 1(2), 126(2)(a)
F4Words in reg. 1(3) inserted (16.12.2016) by The Bank Recovery and Resolution Order 2016 (S.I. 2016/1239), arts. 1(2), 38(2)(a)(ii)
F5Words in reg. 1(3) omitted (16.12.2016) by virtue of The Bank Recovery and Resolution Order 2016 (S.I. 2016/1239), arts. 1(2), 38(2)(b)(i)
F6Words in reg. 1(3) inserted (1.1.2015) by The Bank Recovery and Resolution Order 2014 (S.I. 2014/3329), arts. 1(2), 126(2)(b)
F7Words in reg. 1(3) inserted (16.12.2016) by The Bank Recovery and Resolution Order 2016 (S.I. 2016/1239), arts. 1(2), 38(2)(b)(ii)
F8Reg. 1(4) inserted (16.12.2016) by The Bank Recovery and Resolution Order 2016 (S.I. 2016/1239), arts. 1(2), 38(2)(c)
Marginal Citations
M1See section 2 of the Act.
M3“Partial property transfer” is defined in section 47(1) of the Act. See also section 42 (supplemental instruments), section 43 (onward transfer), section 44 (reverse property transfer), 45 (temporary public ownership: property transfer) and sections 82 and 83 (temporary public ownership of holding companies.
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