Banking (Special Provisions) Bill

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House of Commons

Session 2007 - 08
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Banking (Special Provisions) Bill

Banking (Special Provisions) Bill

EXPLANATORY NOTES
Explanatory notes to the Bill, prepared by the Treasury, are published separately as
Bill 73—EN.
EUROPEAN CONVENTION ON HUMAN RIGHTS
Mr Chancellor of the Exchequer has made the following statement under section
19(1)(a) of the Human Rights Act 1998:
In my view the provisions of the Banking (Special Provisions) Bill are compatible
with the Convention rights.

Bill 73
54/3

Banking (Special Provisions) Bill

Bill 73 54/3

Banking (Special Provisions) Bill

Contents
Introduction
1
Meaning of “authorised UK deposit-taker”
2
Cases where Treasury’s powers are exercisable
Transfer of securities
3
Transfer of securities
4
Extinguishment of subscription rights
5
Compensation etc. for securities transferred etc.
Transfer of property etc.
6
Transfer of property, rights and liabilities
7
Compensation etc. for property etc. transferred
Further transfers
8
Further transfers following transfer to public sector
Supplementary
9
Supplementary provision about compensation schemes etc.
10
Tax consequences
Building societies
11
Modification of legislation applying in relation to building societies
General
12
Consequential and supplementary provision
13
Orders and regulations: general
14
Orders and regulations: retrospective provisions
15
Interpretation
16
Financial provision
17
Short title, commencement and extent

Bill 73
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Banking (Special Provisions) Bill
ii

Schedule 1   —
Transfer orders under section 3
Schedule 2   —
Transfer orders under section 6

© Parliamentary copyright 2008
Revised 19 February 2008