Date-stamp loading
Version status: In force | Document consolidation status: Updated to reflect all known changes
Version date: 16 December 2016 - onwards
  Version 2 of 2    

Article 10 Reverse share transfers

(1) In section 26A (private sector purchaser: reverse share transfer) [Section 26A was inserted by section 97 of the Financial Services Act 2012 (c.21)..] -

(a) in subsection (1), after "11(2)" insert "or 12(2)",

(b) in subsections (2) to (7), omit the words "private sector" wherever they appear,

(c) after subsection (2) insert -

"(2A) If the Bank of England makes an onward share transfer instrument in respect of securities transferred by the original instrument, the Bank may make one or more reverse share transfer instruments in respect of securities issued by the bank and held by a transferee under the onward share transfer instrument ("the onward transferee").",

(d) in subsection (3) -

(i) at the end of paragraph (a) insert "(where subsection (2) applies)",

(ii) after paragraph (a) insert -

"(ab) provides for transfer to the original transferee (where subsection (2A) applies);",

(iii) in paragraph (b), after "paragraph (a)" insert "or (ab)",

(e) in subsection (4), after "instrument"

Comparing proposed amendment...