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Version date: 31 December 2020 - onwards
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Schedule 12, Part II Banking Business Transfer Schemes (paras. 7-9)

Sections 111(2) and 115.

7.For the purposes of section 111(2) the appropriate certificate, in relation to a banking business transfer scheme, is a certificate under paragraph 8.

Certificates as to financial resources

8.

(1) A certificate under this paragraph is one given by the relevant authority and certifying that, taking the proposed transfer into account, the transferee possesses, or will possess before the scheme takes effect, adequate financial resources.

(2) "Relevant authority" means -

(a) if the transferee is a PRA-authorised person with a Part 4A permission, the PRA;

(aa) if the transferee is a person with Part 4A permission but is not a PRA-authorised person, the FCA;

(b) [deleted]

(c) if the transferee does not fall within paragraph (a) or (aa), the authority responsible for the supervision of the transferee's business in the place in which the transferee has its head office.

(3) In sub-paragraph (2), any reference to a transferee of a particular description of person inclu

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