Section 151(1)

This section applies where the Bank of England — transfers all or part of the business of a bank (“the original bank”) to a resolution company (“the original resolution company”) by making a property transfer instrument in accordance with section 12(2) or 12ZA(3), and later makes or proposes to make an onward property transfer instrument under section 43(2) from the resolution company to a transferee (“the onward transferee”).

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Source: legislation.gov.uk · retrieved 2026-09-04