C1C2Part 1Special Resolution Regime

Annotations:
Modifications etc. (not altering text)

F1Chapter 3 Special resolution action

Annotations:
Amendments (Textual)
F1

Pt. 1 Ch. 3 formed from ss. 4-83 (1.1.2015) by The Bank Recovery and Resolution Order 2014 (S.I. 2014/3329), arts. 1(2), 7

Transfer of securities

I2I125Procedure: orders

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,

F2c

the PRA,

ca

the FCA, 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, F4...

b

in two newspapers, chosen by the Treasury to maximise the likelihood of the instrument coming to the attention of persons likely to be affectedF3, and

c

if securities issued by the bank have been admitted to trading on a regulated market (within the meaning of section 103(1) of the Financial Services and Markets Act 2000), by means of a regulatory information service (within the meaning of section 313D of that Act),

and arrange for the publication of a copy on the internet website of the bank in respect of which the order was made.