Section 33 Property transfer instrumentI1

United Kingdom

(1)

A property transfer instrument is an instrument which—

(a)

provides for property, rights or liabilities of a specified bank to be transferred;

(b)

makes other provision for the purposes of, or in connection with, the transfer of property, rights or liabilities of a specified bank (whether the transfer has been or is to be effected by that instrument, by another property transfer instrument or otherwise).

(2)

A property transfer instrument may relate to—

(a)

all property, rights and liabilities of the specified bank,

(b)

all its property, rights and liabilities subject to specified exceptions,

(c)

specified property, rights or liabilities, or

(d)

property, rights or liabilities of a specified description.

F1(3)

In this section references to a bank include a resolution company (whether or not it is a bank).

Annotations

Textual amendments

F1: S. 33(3) inserted (1.1.2015) by The Bank Recovery and Resolution Order 2014 (S.I. 2014/3329), arts. 1(2), 35

Commencement

I1: S. 33 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