UK Statutory Instrument
2008
United Kingdom
The Bradford & Bingley plc Transfer of Securities and Property etc. Order 2008
At a glance
What's here
7 compliance obligations
Who this Act binds
Plus 1 non-business duty on Crown ministers, regulators, local authorities or tribunals — shown collapsed under each section below.
What this Act requires
Sections that create concrete duties on businesses or carry penalties. Procedural and definitional sections are folded into the “Browse other sections” expander at the bottom of each group. Click any section title to read the source text on legislation.gov.uk.
Schedules
Browse 23 other Schedules — structural / supplementary
The following provisions of the 2006 Act—
The following provisions of the Insolvency Act 1986—
The following provisions of the 2000 Act—
Subject to paragraph 2, all rights and liabilities in respect...
The liabilities referred to in paragraph 1 shall not include...
All freehold and leasehold real property of a relevant undertaking...
All contracts, agreements and other arrangements of Bradford & Bingley...
Any personal property of a relevant undertaking—
All intellectual property which relate to the operation of the...
With effect from the segregation time the provisions of the...
The Treasury shall give a guarantee or make other arrangements...
Unless otherwise stated or provided in the guarantee or arrangements...
Except as expressly provided in this Schedule, or to the...
In this Schedule— “the actuary” means the actuary appointed for...
The liabilities of the international section shall be—
At the segregation time, the following assets shall be allocated...
The proportion shall be— (a) comprised of a selection of...
For the purposes of paragraph 4(b)— (a) any liabilities or...
At the segregation time— (a) Bradford & Bingley International shall...
(1) Following the segregation time Bradford & Bingley International shall...
Subject to this Schedule, the provisions of the international section...
No provision of the pension scheme shall apply if it...
Registration of shares and issue of certificates
- Bradford & Bingley must convert shares to certificates and register Treasury Solicitor
Removal of directors
- Relevant undertaking must notify director of Treasury's removal or termination notice
Isle of Man deposits
- Transfer Bradford & Bingley International shares to Abbey and ensure effectiveness under Manx law
Foreign property etc.
- Bradford & Bingley must assist Abbey with foreign property transfer
Sums to be paid to
Other duties (1) — Crown / regulator
- FSCS must pay Abbey the protected deposit compensation amount Statutory regulator
Liability of Bradford & Bingley to the
- Bradford & Bingley must repay FSCS and Treasury under agreed terms
Co-operation with the FSCS
- Cooperate with FSCS by providing requested and useful information
Browse 35 other sections — procedural / definitional / commencement
Citation and commencement
Interpretation: general
The first transfer
Extinguishment of rights in relation to shares in
Modification of interests, rights and liabilities associated with the dated subordinated notes
Modification of rights in relevant instruments
Minimum membership for carrying on business
Resolutions and meetings
Appointment of directors
Proceedings against directors
Shadow directorship
De-listing
Approved persons
The second transfer
No consent or concurrence required
Associated liability and interference
Termination etc. of interest or right
Interests, rights and liabilities of third parties relating to property, rights and liabilities transferred
Modification of rights and liabilities transferred
Subsequent transactions
Construction of documents etc.
Pensions
Employees
Payment to Abbey to constitute payment of compensation for the purposes of the Financial Services Compensation Scheme
Statutory immunity
Services and facilities
Use of the Bradford & Bingley brand by Abbey
Termination etc. of interest or right
Provision of information
Modification to Authority’s rule-making power
Modification to Authority’s duty to consult on rule changes
Modification of provision on liability in relation to operator’s functions
Enterprise Act 2002
Freedom of information
Notification requirement
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