Legislation news update
Modify the Banking Act 2009 (BA 2009), Pt 3, which sets out the bank administration procedure. Apply bank administration where the Treasury make a share transfer order in respect of the securities issued by a bank (or a bank’s holding company), in accordance with BA 2009, s 13(2) (temporary public ownership), and later make a property transfer order from the bank (or from a bank the parent of which is the bank’s holding company) under BA 2009, s 45(2) (temporary public ownership: property transfer).
