70Continuity obligations: terminationU.K.
This section has no associated Explanatory Notes
(1)The continuity authority may by notice terminate an obligation arising under section 63 or 66.
(2)The power under subsection (1) is exerciseable by giving a notice to each person—
(a)on whom the obligation is imposed, or
(b)who has benefited or might have expected to benefit from the obligation.
(3)In this section “continuity authority”—
(a)in relation to section 63, means the Bank of England, and
(b)in relation to section 66, has the same meaning as in that section.
(4)A reference in subsection (1) to obligations under a section includes a reference to obligations under that section as applied under section 65 or 68.
Commencement Information
I1S. 70 in force at 21.2.2009 by S.I. 2009/296, art. 3, Sch. para. 1