(1) In this section -
(a) "onward transfer" means a transfer of property, rights or liabilities (whether or not under a power in this Part) from -
(i) a person who is a transferee under a property transfer instrument under section 12(2) or 12ZA(3) (an "original transferee"), or
(ii) a bank, securities issued by which were earlier transferred by a share transfer instrument under section 12(2) or a share transfer order under section 13(2), and
(b) the person to whom the onward transfer is made is referred to as an "onward transferee".
(2) The continuity authority may -
(a) provide for an obligation under section 63 to apply in respect of an onward transferee;
(b) extend section 64 so as to permit action to be taken under section 64(2) for the purpose of enabling an onward transferee to operate transferred business, or part of it, effectively.
(3) "The continuity authority" means -
(a) the Bank of England, where subsection (1)(a)(i) applies, and
(b) the Treasury, where subsection (1)(a)(
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