OpenLegislation

Article 5 Transfer to the Bank of rights and liabilities of the Director of Savings

Original text. Later amendments are not shown.

(1)

Subject to article 15 below, on the specified day the rights and liabilities described in paragraph (2) below shall, by virtue of this paragraph, be transferred from the Director of Savings to the Bank.

(2)

The rights and liabilities are all the rights and liabilities of the Director of Savings arising before the specified day in relation to the registration of gilts or any transaction associated therewith.