Section 149 General application of this PartI1 I2

United Kingdom

(1)

This section applies where more than one property transfer instrument is made in respect of a bank.

(2)

For that purpose “property transfer instrument” includes—

(a)

supplemental instruments under section 42,

(b)

onward property transfer instruments under section 43, F1...

F2(ba)

bridge bank supplemental property transfer instruments under section 44D, and

(c)

property transfer orders under section 45.

(3)

This Part applies to the bank with any modifications specified by the Treasury in regulations.

(4)

The regulations—

(a)

shall be made by statutory instrument, and

(b)

may not be made unless a draft has been laid before and approved by resolution of each House of Parliament.

Annotations

F1: Word in s. 149(2)(b) omitted (16.12.2016) by virtue of The Bank Recovery and Resolution Order 2016 (S.I. 2016/1239), arts. 1(2), 26(10)(a)
F2: S. 149(2)(ba) inserted (16.12.2016) by The Bank Recovery and Resolution Order 2016 (S.I. 2016/1239), arts. 1(2), 26(10)(b)

I1: S. 149 in force at 17.2.2009 for specified purposes by S.I. 2009/296, arts. 2, 3, Sch. para. 3
I2: S. 149 in force at 21.2.2009 in so far as not already in force by S.I. 2009/296, arts. 2, 3, Sch. para. 3

C1: Pt. 3 modified (21.2.2009) by Banking Act 2009 (Bank Administration) (Modification for Application to Multiple Transfers) Regulations 2009 (S.I. 2009/313), regs. 1(1), 2, 3, Sch. 1
C2: Pt. 3 modified (21.2.2009) by The Banking Act 2009 (Bank Administration) (Modification for Application to Banks in Temporary Public Ownership) Regulations 2009 (S.I. 2009/312), regs. 1(1), 2-4, Sch.
C3: Pt. 3 applied (with modifications) by Building Societies Act 1986 (c. 53), s. 90C (as inserted (29.3.2009) by Building Societies (Insolvency and Special Administration) Order 2009 (S.I. 2009/805), art. 2)
C4: Pt. 3 modified (29.3.2009) by Building Societies (Insolvency and Special Administration) Order 2009 (S.I. 2009/805), Sch. 1 Pts. 1, 3 (as amended (7.4.2010) by S.I. 2010/1189, arts. 1(2), 2 and amended (7.4.2017) by The Deregulation Act 2015, the Small Business, Enterprise and Employment Act 2015 and the Insolvency (Amendment) Act (Northern Ireland) 2016 (Consequential Amendments and Transitional Provisions) Regulations 2017 (S.I. 2017/400), regs. 1(2), 8)
C5: Pt. 3 applied (with modifications) (8.2.2011) by The Investment Bank Special Administration Regulations 2011 (S.I. 2011/245), reg. 1, Sch. 2 para. 6 (as amended (1.4.2013) by S.I. 2013/472, Sch. 2 para. 198(q)(ii) (with Sch. 2 para. 213))