Banking (Special Provisions) Act 2008, Part 2
An Act to make provision to enable the Treasury in certain circumstances to make an order relating to the transfer of securities issued by, or of property, rights or liabilities belonging to, an authorised deposit-taker; to make further provision in relation to building societies. This Act has been made as a result of the Northern Rock crisis, and allows a bank to be taken into public ownership.
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Banking Special Provisions Act
Further transfers following transfer to public sector
apply in relation authorised UK deposit-taker Bank of England bearer instrument body corporate Companies Act 2006 compensation or consideration compensation payable consequence deposit-taker in question deposit-taker in relation deposit-taker include determining the amount Finance Act 2004 Financial Services Authority given by section group undertakings interests or rights Interpretation Act 1978 meaning given mentioned in subsection occupational pension scheme open market operations order make provision order under section order under subsection ordinary market assistance paragraph private sector body provision of financial put in place relevant deposit-taker relevant guarantee arrangements relevant occupational pension relevant order rights and liabilities rights or liabilities Schedule section 4 order Section 6 Transfer section in relation securities issued securities transferred specified description specified manner specified statutory provision statutory instrument subsection l)(a subsequently exercised subsidiary undertaking transactions or events transfer date transfer of property transfer of securities Transfer orders transferred securities UK undertaking United Kingdom virtue of subsection