{
  "url": "https://openlegislation.uk/draft-banking-act-2009-restriction-of-partial-property-transfers-amendment-order-2009/article-3",
  "json_url": "https://openlegislation.uk/draft-banking-act-2009-restriction-of-partial-property-transfers-amendment-order-2009/article-3.json",
  "legislation": "ukdsi/2009/9780111480724",
  "legislation_title": "The Banking Act 2009 (Restriction of Partial Property Transfers) (Amendment) Order 2009",
  "legislation_url": "https://openlegislation.uk/draft-banking-act-2009-restriction-of-partial-property-transfers-amendment-order-2009",
  "path": "article/3",
  "kind": "article",
  "number": "3",
  "heading": "Amendment",
  "text": "In article 1(3)—\n(a) after the definition of “the Bank” insert—\n““Banking Consolidation Directive” means Directive 2006/48/EC of the European Parliament and of the Council relating to the taking up and pursuit of the business of credit institutions;”;\n(b) in paragraphs (c) and (d) of the definition of “excluded rights”—\n(i) delete “solely”; and\n(ii) after “instruments” insert “or an activity referred to in Annex I to the Banking Consolidation Directive”;\n(c) at the end of paragraph (d) of the definition of “excluded rights” delete “or”;\n(d) after paragraph (e) of the definition of “excluded rights” insert—\n“or\n(f) which relate to transferable securities (other than transferable securities referred to or described in a set-off arrangement, netting arrangement or title transfer financial collateral arrangement referred to in article 3(1));”;\n(e) in the definition of “financial instrument”—\n(i) the words from “any instrument” to the end become paragraph (a);\n(ii) for the words from “Directive” to “instruments” substitute “the Markets in Financial Instruments Directive”;\n(iii) at the end insert—\n“(b) any option, future, swap, forward, contract for differences or other derivative contract not falling within paragraph (a); and\n(c) any combination of any of the foregoing;”;\n(f) after the definition of “financial instrument” insert—\n““Markets in Financial Instruments Directive” means Directive 2004/39/EC of the European Parliament and of the Council on markets in financial instruments;”;\n(g) in the definition of “relevant authority” substitute “(a)” and “(b)” for “(f)” and “(g)” respectively;\n(h) in the definition of “relevant financial instrument”—\n(i) substitute “(a)”, “(b)”, “(c)” and “(d)” for “(h)”, “(i)”, “(j)” and “(k)” respectively;\n(ii) after “loan;” delete “or”;\n(iii) at the end insert—\n“or\n(e) any contract for the sale, purchase or delivery of—\n(i) transferable securities;\n(ii) the currency of the United Kingdom or any other country, territory or monetary union;\n(iii) palladium, platinum, gold, silver or any other precious metal; or\n(iv) any other commodity; ”;\n(i) in the definition of “retail deposit” substitute “(a)” and “(b)” for “(l)” and “(m)” respectively;\n(j) after the definition of “title transfer financial collateral arrangements” insert—\n“;\n“transferable securities” has the meaning given by Article 4(18) of the Markets in Financial Instruments Directive”.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "footnote",
      "label": "f1",
      "text": "OJ L177 30.6.2006 p.1."
    },
    {
      "type": "footnote",
      "label": "f2",
      "text": "OJ L145 30.4.2004 p.1."
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukdsi/2009/9780111480724/article/3",
    "retrieved_at": "2026-10-30T14:57:07.365063+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "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."
}