66 General continuity obligation: share transfers
Banking Act 2009 (2009 c 1) | Legislation

66  General continuity obligation: share transfers

(1)     In this section and section 67—

(a)     “transferred bank” means a bank all or part of the ownership of which has been transferred in accordance with section 11(2)(a)[, 12(2)(a)] or 13(2)[, or which falls within subsection (1A)],

(b)     “former group company” means anything which was a group undertaking in relation to the transferred bank immediately before the transfer (whether or not it is also a group undertaking in relation to the transferred bank immediately after the transfer),

(c)     “group undertaking” has the meaning given by section 1161(5) of the Companies Act 2006 (interpretation), and

(d)     “the continuity authority” means—

(i)     the Bank of England, where ownership was transferred in accordance with section 11(2)(a)[, 12(2)(a)][, or in a case falling

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