Paragraph 10 I1

Section 111 (sanction of court for business transfer schemes) is amended as follows.

In subsection (1), for “or a reclaim fund business transfer scheme” substitute “ , a reclaim fund business transfer scheme or a ring-fencing transfer scheme ”.

In subsection (2), after paragraph (aa) insert—

“(ab)

in the case of a ring-fencing transfer scheme, the appropriate certificates have been obtained (as to which see Part 2B of that Schedule);”