(1) In order to give effect to the asset separation tool, a resolution order may transfer all or any assets, rights or liabilities of -
(a) one or more institutions under resolution, or
to one or more asset management vehicles.
(2) Subject to Regulations 110, 148, 149 and 150, the transfer referred to in paragraph (1) may take place -
(a) without the resolution authority obtaining the consent of the shareholders of the institutions under resolution or any third party other than the bridge institution, and
(b) without complying with any procedural requirements under national company or securities law.
(3) For the purposes of this Regulation, the resolution authority may cause to be formed and registered under the Act of 2014 a company (referred to in these Regulations as an "asset management vehicle") that meets the following requirements:
(a) it is wholly or partially owned by one or more public authorities which may include the resolution authority;
(b) it ha
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