Section 84A(8)

The provision that may be made under subsection (4)(b) also includes— in a case where the resolution instrument makes provision under subsection (5)(a), provision for the successor company on its incorporation to be wholly owned by a company specified in the instrument; in a case where the resolution instrument makes provision under subsection (5)(b) transferring the property, rights and liabilities of the building society to a company which is wholly owned by another company, provision relating to that other company; in either case, provision— for the transfer of liabilities from the successor company to the other company mentioned in paragraph (a) or (b) (“the parent undertaking”), and for the creation of corresponding liabilities of the successor company to the parent undertaking; replacing a liability (of any form) of the building society or the successor company with a liability or security (of any form or class) of the parent undertaking.

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