(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;