(1) Expressions in this section have the same meaning as in section 63.

(2) The Bank of England may -

(a) cancel a contract or other arrangement between the residual bank and a third party (whether or not rights or obligations under it have been transferred to a transferee);

(b) modify the terms of a contract or other arrangement between the residual bank and a third party (whether or not rights or obligations under it have been transferred to a transferee);

(c) add or substitute a transferee as a party to a contract or other arrangement between the residual bank and a third party;

(d) confer and impose rights and obligations on a group company and a transferee, which shall have effect as if created by contract between them;

(e) confer and impose rights and obligations on the residual bank and a transferee which shall have effect as if created by contract between them.