Banking Act 2009 (c. 1)

Part 1 U.K. Special Resolution Regime

Modifications etc. (not altering text)

C1 Pt. 1 restricted (7.1.2010) by Banking Act 2009 (Exclusion of Insurers) Order 2010 (S.I. 2010/35), arts. 1, 2

Transfer of securities U.K.

25 Procedure: orders U.K.

(1) A share transfer order—

(a) shall be made by statutory instrument, and

(b) shall be subject to annulment in pursuance of a resolution of either House of Parliament.

(2) As soon as is reasonably practicable after making a share transfer order in respect of a bank the Treasury shall send a copy to—

(a) the bank,

(b) the Bank of England,

(c) the FSA, and

(d) any other person specified in the code of practice under section 5.

(3) As soon as is reasonably practicable after making a share transfer order the Treasury shall publish a copy—

(a) on the Treasury's internet website, and

(b) in two newspapers, chosen by the Treasury to maximise the likelihood of the instrument coming to the attention of persons likely to be affected.

Commencement Information

I1 S. 25 in force at 17.2.2009 for specified purposes by S.I. 2009/296, arts. 2, 3, Sch. para. 1

I2 S. 25 in force at 21.2.2009 in so far as not already in force by S.I. 2009/296, arts. 2, 3, Sch. para. 1