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Version status: In force | Document consolidation status: Updated to reflect all known changes
Version date: 16 December 2016 - onwards
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44E. Bridge bank: supplemental reverse property transfer powers

(1) This section applies where the Bank of England has made a bridge bank supplemental property transfer instrument in accordance with section 44D ("the original instrument").

(2) The Bank of England may make one or more reverse property transfer instruments ("bridge bank supplemental reverse property transfer instruments") in respect of property, rights or liabilities of the transferee under the original instrument.

(3) A bridge bank supplemental reverse property transfer instrument is an instrument which -

(a) provides for transfer to the transferor under the original instrument;

(b) makes other provision for the purposes of, or in connection with, the transfer of property, rights or liabilities which are, could be or could have been transferred under paragraph (a) (whether the transfer has been or is to be effected by that instrument or otherwise).

(4) Sections 7 and 8 do not apply to a bridge bank supplemental reverse property transfer instrument (but it is to be treated in the sa

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