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Changes over time for: Paragraph 75


Timeline of Changes
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Status:
Point in time view as at 31/12/2024.
Changes to legislation:
There are currently no known outstanding effects for the Financial Services and Markets Act 2023, Paragraph 75.

Changes to Legislation
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Restriction of partial transfersU.K.
This section has no associated Explanatory Notes
75(1)In this Schedule, “partial property transfer” means a property transfer instrument which provides for the transfer of some, but not all of the property, rights and liabilities of a CCP.
(2)The Treasury may by regulations—
(a)restrict the making of partial property transfers;
(b)impose conditions on the making of partial property transfers;
(c)require partial property transfers to include specified provision or provision to a specified effect;
(d)provide for a partial property transfer to be void or voidable, or for other consequences (including automatic transfer of other property, rights or liabilities) to arise, if or in so far as the partial property transfer is made or purported to be made in contravention of a provision of the regulations.
(3)Regulations under this paragraph may apply to partial property transfers generally or only to partial property transfers—
(a)of a specified kind, or
(b)made or applying in specified circumstances.
(4)Provision under sub-paragraph (2) may, in particular, refer to particular classes of liabilities.
(5)Regulations under this paragraph are subject to the affirmative procedure.
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