65 Continuity obligations: onward property transfers
Banking Act 2009 (2009 c 1) | Legislation

65  Continuity obligations: onward property transfers

(1)     In this section—

(a)     “onward transfer” means a transfer of property, rights or liabilities (whether or not under a power in this Part) from—

(i)     a person who is a transferee under a property transfer instrument under section 12(2) [or 12ZA(3)] (an “original transferee”), or

(ii)     a bank, securities issued by which were earlier transferred by [a share transfer instrument under section 12(2) or] a share transfer order under section 13(2), and

(b)     the person to whom the onward transfer is made is

Powered by Lexis+®
 

Popular documents

LEXISNEXIS

VAT definition

LEXISNEXIS

The Standard Conditions of Sale (5th edition: 2018 revision)—a guide to the main provisions

The Standard Conditions of Sale (SCS), currently in their 5th edition (2018 revision), are a set of standard conditions which are commonly incorporated into contracts for the sale of residential property. The Standard Commercial Property Conditions (Third Edition—2018 Revision) (SCPC) are used for

LEXISNEXIS

Common financial covenants

Common financial covenantsThis Practice Note explains certain common financial covenants used in commercial finance transactions including:•minimum net worth test•gearing ratio•leverage ratio (or debt to equity ratio)•current ratio (or acid test ratio)•cashflow ratio•interest cover ratio, and•loan

LEXISNEXIS

Arms length management organisations (ALMOs)

Arms length management organisations (ALMOs)An arms length management organisation (ALMO) is a not-for-profit company that provides housing services on behalf of a local housing authority (LHA). Usually an ALMO is set up by the LHA to manage and improve all or part of its housing stock with the LHA