The Northern Rock plc (Tax Consequences) Regulations 2009

Interpretation

2.  In these Regulations—

“ACo” means Northern Rock plc, company registered number 03273685, or, except in relation to regulation 7, any wholly owned subsidiary of that company;

“BCo” means Gosforth Subsidiary No.1 plc, company registered number 06952311, or any wholly owned subsidiary of that company;

“CTA 2009” means the Corporation Tax Act 2009(1);

“relevant time” means any time when both ACo and BCo are wholly owned by the Treasury;

“relevant transfer” means—

(a)

a transfer or novation of any securities, or of any property, rights or liabilities, between ACo and BCo, or

(b)

the grant of a lease, sublease, licence or sub-licence by ACo to BCo or by BCo to ACo,

in relation to, in connection with, or by or under, the Northern Rock plc Transfer Order 2009(2) at a relevant time.

(1)

2009 c. 4.

(2)

S.I. 2009/3226.