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Version status: In force | Document consolidation status: Updated to reflect all known changes
Version date: 16 December 2016 - onwards
Version 4 of 4

149. General application of this Part

(1) This section applies where more than one property transfer instrument is made in respect of a bank.

(2) For that purpose "property transfer instrument" includes -

(a) supplemental instruments under section 42,

(b) onward property transfer instruments under section 43,

(ba) bridge bank supplemental property transfer instruments under section 44D, and

(c) property transfer orders under section 45.

(3) This Part applies to the bank with any modifications specified by the Treasury in regulations.

(4) The regulations -

(a) shall be made by statutory instrument, and

(b) may not be made unless a draft has been laid before and approved by resolution of each House of Parliament.