C2C1C3C5C4Part 3Bank Administration

Annotations:
Modifications etc. (not altering text)
C3

Pt. 3 applied (with modifications) by Building Societies Act 1986 (c. 53), s. 90C (as inserted (29.3.2009) by Building Societies (Insolvency and Special Administration) Order 2009 (S.I. 2009/805), art. 2)

Multiple transfers

I2I1152Property transfer from temporary public ownership

1

This section applies where the Treasury—

a

make a share transfer order, in respect of securities issued by a bank (or a bank's holding company), in accordance with section 13(2), and

b

later make a property transfer order from the bank (or from another bank which is or was in the same group as the bank) under section 45(2).

2

This Part applies to the transferor under the property transfer order as to the transferor under a property transfer instrument.

3

For that purpose this Part applies with any modifications specified by the Treasury in regulations; and 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.