Section 63(1)

In this section and section 64— “residual bank” means a bank all or part of whose business has been transferred in accordance with section 11(2)(b), 12(2) , 12ZA(3) , 41A(2) or 44D(2) , “group company” means anything which is, or was immediately before the transfer, a group undertaking in relation to a residual bank, “group undertaking” has the meaning given by section 1161(5) of the Companies Act 2006 (interpretation), “the transferred business” means the part of the bank's business that has been transferred, and “transferee” means a commercial purchaser or resolution company to whom all or part of the transferred business has been transferred.

← 63 · All articles · 1A →

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