In Schedule 1 to the Building Societies (Insolvency and Special Administration) Order 2009 [S.I. 2009/805.] (modified application of Parts 2 and 3 of the Banking Act 2009 to building societies), after paragraph 32 insert -

"32ZA. Property transfer from transferred institution

Where a resolution instrument makes provision under section 84A of the 2009 Act in respect of a building society, in section 152A of the 2009 Act [Section 152A was inserted by paragraph 29 of Schedule 2 to the Financial Services (Banking Reform) Act 2013.] (property transfer from transferred institution) -

(a) the first reference in paragraphs (a) and (b) of subsection (1) to a bank (which would otherwise apply as mentioned in section 90C(2)(a) of the 1986 Act) is to be read as a reference -

(i) to the successor company (defined in section 84D(8) of the 2009 Act), or

(ii) in a case within section 84D(1)(b) of the 2009 Act, to the successor company or its specified parent undertaking (defined in section 84D(8) of the 2009 Act);

(b) in paragraph (a) of subsection (1) ignore the reference to a bank's parent undertaking;

(c) in paragraph (b) of subsection (1) ignore "or from another a bank which is or was in the same group as the bank"; and