Section 41A Transfer of property subsequent to resolution instrumentF1
United Kingdom
This section applies where the Bank of England has made a resolution instrument.
The Bank of England may make one or more property transfer instruments in respect of property, rights or liabilities of the bank.
F2Section 7 does not apply to a property transfer instrument under subsection (2).
Before making a property transfer instrument under subsection (2) the Bank of England must consult—
the PRA,
the FCA, and
the Treasury.
Annotations
Textual amendments
- F1
S. 41A inserted (31.12.2014) by Financial Services (Banking Reform) Act 2013 (c. 33), s. 148(5), Sch. 2 para. 5(1); S.I. 2014/3160, art. 2(1)(b)
- F2
Words in s. 41A(3) substituted (1.1.2015) by The Bank Recovery and Resolution Order 2014 (S.I. 2014/3329), arts. 1(2), 41
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