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Changes over time for: Section 84
Timeline of Changes
This timeline shows the different points in time where a change occurred. The dates will coincide with the earliest date on which the change (e.g an insertion, a repeal or a substitution) that was applied came into force. The first date in the timeline will usually be the earliest date when the provision came into force. In some cases the first date is 01/02/1991 (or for Northern Ireland legislation 01/01/2006). This date is our basedate. No versions before this date are available. For further information see the Editorial Practice Guide and Glossary under Help.
Status:
Point in time view as at 31/12/2020.
Changes to legislation:
Banking Act 2009, Section 84 is up to date with all changes known to be in force on or before 14 November 2024. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations.
Changes to Legislation
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84Application of Part 1: generalU.K.
This section has no associated Explanatory Notes
[This Part applies to building societies (within the meaning of section 119 of the Building Societies Act 1986) as it applies to banks, subject to—
(a)the provisions of the Table, and
(b)sections [84ZA] to 84D (which relate to the [second and fourth stabilisation options] ).]
Section | Topic | Modification or note |
---|
. . . | . . . | . . . |
13 | Temporary public ownership | The procedure provided by section 85 has effect in place of share transfer orders. |
14 to 32 | Transfer of securities | The procedure provided by section 85 has effect in place of share transfer orders; and—
(a) sections 28 and 30 do not apply, and
(b) section 27 applies following an order under section 85 as following a share transfer order.
|
33 | Property transfer instrument: nature | A property transfer instrument in respect of a building society may—
(a) cancel shares in the building society;
(b) confer rights and impose liabilities in place of cancelled shares (whether by way of actual or deemed shares in a transferee building society or by way of other rights and liabilities in relation to a transferee bank).
|
33 and 36 | Property transfer instrument: continuity | A property transfer instrument in respect of a bank which provides for transfer to a building society may confer rights and impose liabilities by way of actual or deemed shares in the building society. |
34 | Property transfer instrument: effect | A property transfer instrument may, in particular, have effect without causing sections 93 to 102D of the Building Societies Act 1986 (mergers and transfers) to apply. |
42 | Supplemental property transfer instrument | A supplemental property transfer instrument in respect of a building society may—
(a) cancel shares in the building society;
(b) confer rights and impose liabilities in place of cancelled shares (whether by way of actual or deemed shares in a transferee building society or by way of other rights and liabilities in relation to a transferee bank).
|
45 | Temporary public ownership: property transfer | (a)Section 45 applies following an order under section 85 as following a share transfer order.
(b)A property transfer order in respect of a building society may cancel shares in the building society.
|
49 to 62 | Compensation | (a)A reference to a share transfer order includes a reference to an order under section 85.
(b)A resolution fund order may not be made under section 51(2)(b).
(c)If and in so far as an order under section 85 provides for the issue of new deferred shares, section 51(2) shall not apply [but the Treasury may make a third party compensation order].
|
63 to 75 | Incidental functions | A reference to a share transfer order includes a reference to an order under section 85. |
Textual Amendments
Commencement Information
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