S. 37 in force at 21.2.2009 by S.I. 2009/296, art. 3, Sch. para. 1

http://www.legislation.gov.uk/ukpga/2009/1/section/37/2020-12-31Banking Act 2009An Act to make provision about banking.texttext/xmlenStatute Law Database2024-05-18Expert Participation2020-12-31Part 1Special Resolution RegimeChapter 3 Special resolution actionTransfer of property
37Licences(1)

A licence in respect of anything transferred by property transfer instrument shall continue to have effect despite the transfer.

(2)

A property transfer instrument may disapply subsection (1) to a specified extent.

(3)

Where a licence imposes rights or obligations, a property transfer instrument may apportion responsibility for exercise or compliance between transferor and transferee.

(4)

In this section “licence” includes permission and approval and any other permissive document in respect of anything transferred.

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S. 37 in force at 21.2.2009 by
<ref eId="c5njw6fq2-01247" href="http://www.legislation.gov.uk/id/uksi/2009/296">S.I. 2009/296</ref>
,
<ref eId="c5njw6fq2-01248" class="subref" href="http://www.legislation.gov.uk/id/uksi/2009/296/article/3">art. 3</ref>
,
<ref eId="c5njw6fq2-01249" class="subref operative" href="http://www.legislation.gov.uk/id/uksi/2009/296/schedule/paragraph/1">Sch. para. 1</ref>
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Chapter 3
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<p>A licence in respect of anything transferred by property transfer instrument shall continue to have effect despite the transfer.</p>
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<p>Where a licence imposes rights or obligations, a property transfer instrument may apportion responsibility for exercise or compliance between transferor and transferee.</p>
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In this section “
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