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Paragraph 2 Interpretation

Original text. Later amendments are not shown.

The following rules of interpretation apply to this Schedule.

(1)

The objects set out in paragraph 1 shall be construed in the widest manner possible and their construction shall not be restricted by the scope of any examples given in those objects.

(2)

Unless the context expressly requires it, the provisions of paragraph 1 will not be limited to, or restricted by—

(a)

any other object, or objects, set out in the other provisions of paragraph 1;

(b)

the terms of any other provision of paragraph 1; or

(c)

the Bank’s name.

(3)

None of the—

(a)

provisions or objects of; or

(b)

powers conferred by;

paragraph 1 shall be treated as subordinate to or incidental to any other such provision, object or power.

(4)

The Bank shall have full power to use any of the powers conferred by, and to achieve or try to achieve any of the objects set out in, any one or more of the provisions of paragraph 1.

(5)

In this Schedule, unless the subject or context requires otherwise, the following terms shall have the following meanings—

  • “acquire” means to acquire in any way, including purchasing, taking options over, taking on lease or in exchange, hiring, subscribing for, or otherwise acquiring, and for any kind of estate or interest, whether directly or indirectly, by contract, tender, underwriting or in any other way and on any terms and conditions;

  • “the Bank” means Bank of Scotland plc;

  • “company” includes any company or corporate body established anywhere in the world;

  • “holding company” has the same meaning as in the Companies Act 1985 (c. 6), except that it also includes any other parent undertaking, as defined in that Act;

  • “person” includes a body of persons corporate or unincorporated;

  • “property” includes real, heritable, moveable and personal property of any kind and any interest in, or right to, any such property;

  • “securities” include any shares, stocks, debentures, debenture stock, bonds, notes or warrants, whether fully or partly paid; and

  • “subsidiary” has the same meaning as in the Companies Act 1985, except that it also includes any other subsidiary undertaking, as defined in that Act.