{
  "url": "https://openlegislation.uk/banking-act-2009/section-49",
  "json_url": "https://openlegislation.uk/banking-act-2009/section-49.json",
  "legislation": "ukpga/2009/1",
  "legislation_title": "Banking Act 2009",
  "legislation_url": "https://openlegislation.uk/banking-act-2009",
  "path": "section/49",
  "kind": "section",
  "number": "49",
  "heading": "Orders",
  "text": "(1) This Part provides four methods of protecting the financial interests of transferors and others in connection with share transfer instruments and orders, property transfer instruments and orders and resolution instruments.\n(2) A “compensation scheme order” is an order —\n(a) establishing a scheme for determining whether transferors should be paid compensation, or providing for transferors to be paid compensation, and\n(b) establishing a scheme for paying any compensation.\n(2A) A “bail-in compensation order” is an order establishing a scheme for determining, in accordance with section 52A, whether any transferors or others should be paid compensation.\n(3) A “resolution fund order” is an order establishing a scheme under which transferors become entitled to the proceeds of the disposal of things transferred—\n(a) in specified circumstances, and\n(b) to a specified extent.\n(4) A “third party compensation order” is provision made in accordance with section 59 for compensation to be paid to persons other than transferors.",
  "extent": "E+W+S+N.I.",
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "F",
      "label": "F1",
      "text": "Words in s. 49(1) substituted (31.12.2014) by Financial Services (Banking Reform) Act 2013 (c. 33), s. 148(5), Sch. 2 para. 6(1)(a); S.I. 2014/3160, art. 2(1)(b)"
    },
    {
      "type": "F",
      "label": "F2",
      "text": "S. 49(2A) inserted (31.12.2014) by Financial Services (Banking Reform) Act 2013 (c. 33), s. 148(5), Sch. 2 para. 6(1)(b); S.I. 2014/3160, art. 2(1)(b)"
    },
    {
      "type": "I",
      "label": "I1",
      "text": "S. 49 in force at 21.2.2009 by S.I. 2009/296, art. 3, Sch. para. 1"
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukpga/2009/1/section/49",
    "retrieved_at": "2026-10-29T09:11:28.246347+00:00",
    "licence": "OGL-UK-3.0",
    "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
    "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
  }
}