Property transfer instruments: special bail-in provision46
1
Section 44B (property transfer instruments: special bail-in provision)62 is amended as follows.
2
In subsection (1), for “12(2)” substitute “11(2), 12(2), 12ZA(3)”.
3
In subsection (2), for “12(2)” substitute “11(2), 12(2), 12ZA(3)”.
4
In subsection (3)—
a
after “12(2)” in both places insert “or 12ZA(3),”
b
after “class)” insert “of the bank or”, and
c
after “12(1)” insert “or the asset management vehicle mentioned in section 12ZA(1) (as the case may be)”.
5
In subsection (4)—
a
for “12(1)” substitute “12(1A) and 12ZA(2)”, and
b
for “continues to hold” substitute “is entitled to exercise, or control the exercise of, voting rights in respect of”.