Watchtower/Law library/Financial Services and Markets Act 2023/67 Supplemental instruments
As last captured

Financial Services and Markets Act 2023 · PART 5 Special resolution action

67 Supplemental instruments

Sch. 11 para. 67 · in force: yes

Captured statutory text (L5)

67 Supplemental instruments

(1)This paragraph applies where the Bank has made a property transfer instrument in accordance with paragraph 27(2) or 29(3) (“the original instrument”).
(2)The Bank may make one or more supplemental property transfer instruments.
(3)A supplemental property transfer instrument is a property transfer instrument which—
(a)provides for property, rights or liabilities to be transferred from the transferor under the original instrument (whether accruing or arising before or after the original instrument);
(b)makes other provision of a kind that an original property transfer instrument may make under paragraph 54(1)(b) (whether in connection with a transfer under the original instrument or in connection with a transfer under that or another supplemental instrument).
(4)Paragraphs 17 and 19 do not apply to a supplemental property transfer instrument (but it is to be treated in the same way as any other property transfer instrument for all other purposes, including for the purposes of the application of a power under this Schedule).
(5)Before making a supplemental property transfer instrument the Bank must consult—
(a)if the CCP is a PRA-authorised person, the PRA,
(b)the FCA, and
(c)the Treasury.
(6)The possibility of making a supplemental property transfer instrument in reliance on sub-paragraph (2) is without prejudice to the possibility of making a new instrument in accordance with paragraph 27(2) or 29(3) (and not in reliance on sub-paragraph (2) above).
(7)Paragraph 64 applies where the Bank has made a supplemental property transfer instrument.
Full captured verbatim text
(1) This paragraph applies where the Bank has made a property transfer instrument in accordance with paragraph 27(2) or 29(3) (“the original instrument”).

(2) The Bank may make one or more supplemental property transfer instruments.

(3) A supplemental property transfer instrument is a property transfer instrument which—

(a) provides for property, rights or liabilities to be transferred from the transferor under the original instrument (whether accruing or arising before or after the original instrument);

(b) makes other provision of a kind that an original property transfer instrument may make under paragraph 54(1)(b) (whether in connection with a transfer under the original instrument or in connection with a transfer under that or another supplemental instrument).

(4) Paragraphs 17 and 19 do not apply to a supplemental property transfer instrument (but it is to be treated in the same way as any other property transfer instrument for all other purposes, including for the purposes of the application of a power under this Schedule).

(5) Before making a supplemental property transfer instrument the Bank must consult—

(a) if the CCP is a PRA-authorised person, the PRA,

(b) the FCA, and

(c) the Treasury.

(6) The possibility of making a supplemental property transfer instrument in reliance on sub-paragraph (2) is without prejudice to the possibility of making a new instrument in accordance with paragraph 27(2) or 29(3) (and not in reliance on sub-paragraph (2) above).

(7) Paragraph 64 applies where the Bank has made a supplemental property transfer instrument.

What this provision means

Model summary, checked against the text on the left.

Relevance to Signicat: 1/3 · detailed summary (L4) Status: not needed for a short provision · Stored artifact; current recipe verification unavailable

The Bank may execute supplemental property transfer instruments following consultation with statutory bodies.

Only the one-line summary above is stored for this provision; the text itself is the evidence.

Refers to

schedule ref schedule_ref · Sch. 11 para. 17

schedule ref schedule_ref · Sch. 11 para. 19

schedule ref schedule_ref · Sch. 11 para. 27

schedule ref schedule_ref · Sch. 11 para. 29

schedule ref schedule_ref · Sch. 11 para. 54

schedule ref schedule_ref · Sch. 11 para. 64

schedule ref schedule_ref · Sch. 11 para. 67

Referred to by

schedule ref schedule_ref · Sch. 11 para. 1

schedule ref schedule_ref · Sch. 11 para. 105

schedule ref schedule_ref · Sch. 11 para. 139

schedule ref schedule_ref · Sch. 11 para. 140

schedule ref schedule_ref · Sch. 11 para. 149

schedule ref schedule_ref · Sch. 11 para. 159

schedule ref schedule_ref · Sch. 11 para. 160

schedule ref schedule_ref · Sch. 11 para. 162

schedule ref schedule_ref · Sch. 11 para. 163

schedule ref schedule_ref · Sch. 11 para. 67

schedule ref schedule_ref · Sch. 11 para. 77

schedule ref schedule_ref · s. 10

Part summaries

0 of 0 parts have a verified summary.

L1 unavailable for current verification: the overall summary needs every part verified. Provisions and the verified summaries remain readable.

Verification findings (537)

synthesis coverage: missing/unverified L2 part-1-chapter-1

synthesis coverage: missing evaluation uk:ukpga/2023/29#section-1

synthesis coverage: missing evaluation uk:ukpga/2023/29#section-2

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synthesis coverage: missing/unverified L2 part-1-chapter-2

synthesis coverage: missing evaluation uk:ukpga/2023/29#section-8

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synthesis coverage: missing/unverified L2 part-1-chapter-2

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synthesis coverage: missing evaluation uk:ukpga/2023/29#section-25

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Instrument tier unavailable

Change history as published

No captured publisher history.

Pending effects amendments not yet applied to this text

s. 1(1) coming into force by The Financial Services and Markets Act 2023 (Commencement No. 11 and Saving Provisions) Regulations 2025 reg. 9(a) · Effective date unknown · s. 1

Sch. 1 Pt. 1 coming into force by The Financial Services and Markets Act 2023 (Commencement No. 11 and Saving Provisions) Regulations 2025 reg. 9(b) · Effective date unknown

Sch. 1 Pt. 3 coming into force by The Financial Services and Markets Act 2023 (Commencement No. 11 and Saving Provisions) Regulations 2025 reg. 9(c) · Effective date unknown

Sch. 1 Pt. 5 coming into force by The Financial Services and Markets Act 2023 (Commencement No. 11 and Saving Provisions) Regulations 2025 reg. 9(d)(i) · Effective date unknown

s. 1(1) coming into force by The Financial Services and Markets Act 2023 (Commencement No. 13) Regulations 2026 reg. 2(a) · Effective date unknown · s. 1

Show all 14

Sch. 1 Pt. 1 coming into force by The Financial Services and Markets Act 2023 (Commencement No. 13) Regulations 2026 reg. 2(b) · Effective date unknown

s. 1(1) coming into force by The Financial Services and Markets Act 2023 (Commencement No. 15 and Saving and Transitional Provisions) Regulations 2026 reg. 2(a) · Effective date unknown · s. 1

Sch. 1 Pt. 1 coming into force by The Financial Services and Markets Act 2023 (Commencement No. 15 and Saving and Transitional Provisions) Regulations 2026 reg. 2(b) · Effective date unknown

Sch. 1 Pt. 2 coming into force by The Financial Services and Markets Act 2023 (Commencement No. 15 and Saving and Transitional Provisions) Regulations 2026 reg. 2(c) · Effective date unknown

Sch. 1 Pt. 3 coming into force by The Financial Services and Markets Act 2023 (Commencement No. 15 and Saving and Transitional Provisions) Regulations 2026 reg. 2(d) · Effective date unknown

s. 1(1) coming into force by The Financial Services and Markets Act 2023 (Commencement No. 12 and Saving Provisions) Regulations 2026 reg. 3(a) · Effective date unknown · s. 1

Sch. 1 Pt. 1 coming into force by The Financial Services and Markets Act 2023 (Commencement No. 12 and Saving Provisions) Regulations 2026 reg. 3(b) Sch. Pt. 1 · Effective date unknown

Sch. 1 Pt. 2 coming into force by The Financial Services and Markets Act 2023 (Commencement No. 12 and Saving Provisions) Regulations 2026 reg. 3(c) · Effective date unknown

Sch. 1 Pt. 3 coming into force by The Financial Services and Markets Act 2023 (Commencement No. 12 and Saving Provisions) Regulations 2026 reg. 3(d) Sch. Pt. 2 · Effective date unknown

Provenance

Every claim the system makes about this text is traceable to these identifiers.

Instrument
uk:ukpga/2023/29
Part
PART 5 Special resolution action
Version
86372fb4e615f9918e757dfa…
Content hash
sha256 e212ee351690badefee6cc1c…
Source
legislation.gov.uk/ukpga/2023/29