Schedule 2, Part 1, paragraph 5(1)

After section 41 insert— This section applies where the Bank of England has made a resolution instrument. The Bank of England may make one or more property transfer instruments in respect of property, rights or liabilities of the bank. Sections 7 and 8A do not apply to a property transfer instrument under subsection (2). Before making a property transfer instrument under subsection (2) the Bank of England must consult— the PRA, the FCA, and the Treasury.

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