Section 53 Onward and reverse transfers etcF14I1I2
United Kingdom
This section applies where—
the Bank of England makes a supplemental share transfer instrument under section 26,
the Bank of England makes an onward share transfer instrument under section 26ZA,
the Treasury makes a supplemental share transfer order under section 27,
the Treasury make an onward share transfer order under section 28,
the Treasury makes a reverse share transfer order under section 29,
the Bank of England makes a F6resolution company share transfer instrument under section 30,
the Bank of England makes a F7resolution company reverse share transfer instrument under section 31,
the Bank of England makes a supplemental property transfer instrument under section 42,
the Bank of England makes a private sector reverse property transfer instrument under section 42A,
the Bank of England makes an onward property transfer instrument under section 43,
the Bank of England makes a reverse property transfer instrument under section 44,
the Bank of England makes a reverse property transfer instrument under section 44A(2),
the Bank of England makes a bridge bank supplemental property transfer instrument under section 44D,
the Bank of England makes a bridge bank supplemental reverse property transfer instrument under section 44E,
the Treasury make a property transfer order under section 45, F12...
the Treasury make a reverse property transfer order under section 46.
the Bank of England makes a supplemental resolution instrument under section 48U,
the Bank of England makes an onward transfer resolution instrument under section 48V(2), or
the Bank of England makes a reverse transfer resolution instrument under section 48W(2) or (3).
The Treasury may make—
a compensation scheme order;
a third party compensation order.
Annotations
Textual amendments
- F1
S. 53(1)(zza) inserted (31.12.2014) by Financial Services (Banking Reform) Act 2013 (c. 33), s. 148(5), Sch. 2 para. 6(4)(a); S.I. 2014/3160, art. 2(1)(b)
- F2
S. 53(1)(zzb) inserted (16.12.2016) by The Bank Recovery and Resolution Order 2016 (S.I. 2016/1239), arts. 1(2), 16(a)
- F3
S. 53(1)(za) inserted (1.4.2013) by Financial Services Act 2012 (c. 21), ss. 97(9)(a), 122(3) (with Sch. 20); S.I. 2013/423, art. 3, Sch.
- F4
Words in s. 53(1)(za) omitted (16.12.2016) by virtue of The Bank Recovery and Resolution Order 2016 (S.I. 2016/1239), arts. 1(2), 16(b)
- F5
S. 53(1)(zb) inserted (31.12.2014) by Financial Services (Banking Reform) Act 2013 (c. 33), s. 148(5), Sch. 2 para. 6(4)(b); S.I. 2014/3160, art. 2(1)(b)
- F6
Words in s. 53(1)(c) substituted (1.1.2015) by The Bank Recovery and Resolution Order 2014 (S.I. 2014/3329), arts. 1(2), 64
- F7
Words in s. 53(1)(d) substituted (1.1.2015) by The Bank Recovery and Resolution Order 2014 (S.I. 2014/3329), arts. 1(2), 64
- F8
S. 53(1)(dza) inserted (31.12.2014) by Financial Services (Banking Reform) Act 2013 (c. 33), s. 148(5), Sch. 2 para. 6(4)(c); S.I. 2014/3160, art. 2(1)(b)
- F9
S. 53(1)(da) inserted (1.4.2013) by Financial Services Act 2012 (c. 21), ss. 97(9)(b), 122(3) (with Sch. 20); S.I. 2013/423, art. 3, Sch.
- F10
S. 53(1)(fa) inserted (31.12.2014) by Financial Services (Banking Reform) Act 2013 (c. 33), s. 148(5), Sch. 2 para. 6(4)(d); S.I. 2014/3160, art. 2(1)(b)
- F11
S. 53(1)(fb)(fc) inserted (16.12.2016) by The Bank Recovery and Resolution Order 2016 (S.I. 2016/1239), arts. 1(2), 16(c)
- F12
Word in s. 53(1) omitted (31.12.2014) by virtue of Financial Services (Banking Reform) Act 2013 (c. 33), s. 148(5), Sch. 2 para. 6(4)(e); S.I. 2014/3160, art. 2(1)(b)
- F13
S. 53(1)(i)-(k) inserted (31.12.2014) by Financial Services (Banking Reform) Act 2013 (c. 33), s. 148(5), Sch. 2 para. 6(4)(f); S.I. 2014/3160, art. 2(1)(b)
- F14
Word in s. 53 heading inserted (31.12.2014) by Financial Services (Banking Reform) Act 2013 (c. 33), s. 148(5), Sch. 2 para. 6(4)(g); S.I. 2014/3160, art. 2(1)(b)
Commencement
- I1
S. 53 in force at 17.2.2009 for specified purposes by S.I. 2009/296, arts. 2, 3, Sch. para. 1
- I2
S. 53 in force at 21.2.2009 in so far as not already in force by S.I. 2009/296, arts. 2, 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