Section 15 Share transfer instrumentI1

(1)

A share transfer instrument is an instrument which—

(a)

provides for securities issued by a specified bank to be transferred;

(b)

makes other provision for the purposes of, or in connection with, the transfer of securities issued by a specified bank (whether or not the transfer has been or is to be effected by that instrument, by another share transfer instrument or otherwise).

F1(1A)

Where the Bank of England requires a recapitalisation payment to be made under section 214E of the Financial Services and Markets Act 2000 in respect of a specified bank, a share transfer instrument may include provision requiring the specified bank to issue securities.

(2)

A share transfer instrument may relate to—

(a)

specified securities, or

(b)

securities of a specified description.

Annotations

Textual amendments

F1: S. 15(1A) inserted (16.7.2025) by Bank Resolution (Recapitalisation) Act 2025 (c. 15), ss. 7(4), 8(2); S.I. 2025/872, reg. 2(g)

Commencement

I1: S. 15 in force at 21.2.2009 by S.I. 2009/296, art. 3, Sch. para. 1

Notes on Part 1

Modifications

C1: Pt. 1 restricted (7.1.2010) by Banking Act 2009 (Exclusion of Insurers) Order 2010 (S.I. 2010/35), arts. 1, 2
C2: Pt. 1: power to amend conferred (1.3.2014) by Financial Services (Banking Reform) Act 2013 (c. 33), ss. 17(3)(f), 148(5); S.I. 2014/377, art. 2(1)(b), Sch. Pt. 2

Notes on Chapter 3

Textual amendments

F1: Pt. 1 Ch. 3 formed from ss. 4-83 (1.1.2015) by The Bank Recovery and Resolution Order 2014 (S.I. 2014/3329), arts. 1(2), 7