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House of Commons		 Session 2005 - 06
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HBOS Group Reorganisation Bill
 

EXPLANATORY MEMORANDUM

CONTENTS

 
PART 1
INTRODUCTORY
1 Citation
2 Interpretation
 
PART 2
REGULATION AND MANAGEMENT OF THE BANK
3 Commencement on registration of the Bank under the Companies Act 1985
4 Name of the Bank
5 Effect of registration and change of name
6 Powers and objects of the Bank
7 Management and administration of the Bank
8 Repeals
 
PART 3
TRANSFER OF UNDERTAKINGS
9 Appointed day
10 Vesting of undertakings in the Bank
11 Provision as to trust property and wills
12 Supplementary provisions as to transfer
13 Office-holders
14 Accounting provisions
15 Distributable profits or reserves of the Bank
16 Pension scheme
17 Evidence of transfer
18 Dissolution of transferor companies
19 Evidence: documents
20 Application of Bankers' Books Evidence Act 1879
21 Savings in respect of transfers of property
22 Right to issue bank notes
23 Transfer of the Society
 
PART 4
MISCELLANEOUS
24 Application
25 Costs of Act
 
SCHEDULES:
Schedule 1— Business and objects of the Bank
Schedule 2— Repeals
 
Part 1— Bank of Scotland
 
Part 2— Clerical, Medical and General Life Assurance Society
 

 
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Prepared 14 March 2006