Section 43 Onward transferI1

This section applies where the Bank of England has made a property transfer instrument in respect of a F1resolution company in accordance with section 12(2) F2or 12ZA(3) (“the original instrument”).

The Bank of England may make one or more onward property transfer instruments.

An onward property transfer instrument is a property transfer instrument which—

An onward property transfer instrument may relate to property, rights or liabilities of the F4resolution company whether or not they were transferred under the original instrument.

An onward property transfer instrument may not transfer property, rights or liabilities to the transferor under the original instrument.

Sections 7, 8F5, 8ZA and 52 do not apply to an onward property transfer instrument (but for other purposes it is to be treated in the same way as any other property transfer instrument, including for the purposes of the application of a power under this Part).

Before making an onward property transfer instrument the Bank of England must consult—

Section 42 applies where the Bank of England has made an onward property transfer instrument.