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Section 30 Resolution company: share transfersF4I1

United Kingdom

F1(1)

This section applies where the Bank of England has made—

(a)

a property transfer instrument in respect of a resolution company in accordance with section 12(2) or 12ZA(3), or

(b)

a share transfer instrument in respect of a resolution company in accordance with section 12(2).

(2)

The Bank of England may make one or more F2resolution company share transfer instruments.

(3)

A resolution company share transfer instrument is a share transfer instrument which—

(a)

provides for securities issued by the resolution company to be transferred;

(b)

makes other provision for the purposes of, or in connection with, the transfer of securities issued by the resolution company (whether the transfer has been or is to be effected by that instrument, by another share transfer instrument or otherwise).

(4)

Sections 7 and 8 do not apply to a resolution company share transfer instrument (but it is to be treated in the same way as any other share transfer instrument for all other purposes, including for the purposes of the application of a power under this Part).

(5)

Before making a resolution company share transfer instrument the Bank of England must consult—

F3(a)

the PRA,

(aa)

the FCA, and

(b)

the Treasury.

(6)

Section 26 applies where the Bank of England has made a resolution company share transfer instrument.

Annotations

Textual amendments

F1

S. 30(1) substituted (1.1.2015) by The Bank Recovery and Resolution Order 2014 (S.I. 2014/3329), arts. 1(2), 33(2)

F2

Words in s. 30(2)-(6) substituted (1.1.2015) by The Bank Recovery and Resolution Order 2014 (S.I. 2014/3329), arts. 1(2), 33(3)

F3

S. 30(5)(a)(aa) substituted for s. 30(5)(a) (1.4.2013) by Financial Services Act 2012 (c. 21), s. 122(3), Sch. 17 para. 18 (with Sch. 20); S.I. 2013/423, art. 3, Sch.

F4

Words in s. 30 heading substituted (1.1.2015) by The Bank Recovery and Resolution Order 2014 (S.I. 2014/3329), arts. 1(2), 33(4)

Commencement

I1

S. 30 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