Part 3Bank Administration
Multiple transfers
152Property 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.