# Banking Act 2009, Section 52: Transfer to resolution company

Extent: E+W+S+N.I.

(1) This section applies if the Bank of England makes—
(a) a share transfer instrument or a property transfer instrument under section 12(2), or
(b) a property transfer instrument under section 12ZA(3).
(2) The Treasury shall make a resolution fund order.
(3) An order made by virtue of subsection (2) may include—
(a) a compensation scheme order;
(b) a third party compensation order (which may, in particular, make provision, in respect of persons of a specified description, for rights in addition to any rights they may have by virtue of the resolution fund order).
(4) In the case of a partial property transfer, the resolution fund order must include a third party compensation order.

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Source: https://www.legislation.gov.uk/ukpga/2009/1/section/52 (the official version)
Page: https://openlegislation.uk/banking-act-2009/section-52
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.