SCHEDULES
SCHEDULE 2Bail-in stabilisation option
PART 1Amendments of Banking Act 2009
29Other amendments of the Act
After section 152 insert—
152AProperty transfer from transferred institution
1
This section applies where the Bank of England—
a
makes a resolution instrument that transfers securities issued by a bank (or a bank’s parent undertaking), in accordance with section 12A(2), and
b
later makes a property transfer instrument from the bank or from another bank which is or was in the same group as the bank, in accordance with section 41A(2).
2
This Part applies to the transferor under the property transfer instrument made in accordance with section 41A(2) as to the transferor under a property transfer instrument made in accordance with section 12(2).
3
For that purpose this Part applies with any modifications specified by the Treasury in regulations; and any regulations—
a
are to be made by statutory instrument, and
b
may not be made unless a draft has been laid before and approved by resolution of each House of Parliament.