Part 3Bank Administration

Multiple transfers

149General application of this Part

1

This section applies where more than one property transfer instrument is made in respect of a bank.

2

For that purpose “property transfer instrument” includes—

a

supplemental instruments under section 42,

b

onward property transfer instruments under section 43, and

c

property transfer orders under section 45.

3

This Part applies to the bank with any modifications specified by the Treasury in regulations.

4

The regulations—

a

shall be made by statutory instrument, and

b

may not be made unless a draft has been laid before and approved by resolution of each House of Parliament.