5 Compensation etc for securities transferred etc
Banking (Special Provisions) Act 2008 (2008 c 2) | Legislation

5  Compensation etc for securities transferred etc

(1)     The Treasury must by order—

(a)     in relation to an order under section 3 that transfers securities only to the public sector, make a scheme for determining the amount of any compensation payable by the Treasury to persons who held the securities immediately before they were so transferred;

(b)     in relation to an order under section 3 that transfers securities only to a private sector body, make provision for determining the amount of any consideration payable by the body to persons who held the securities immediately before they were so transferred;

(c)     in relation to an order under section 3 that transfers securities both to the public sector and a private sector body, make provision for determining—

(i)     the amount of any compensation payable by the Treasury, and

(ii)     the amount of any consideration payable by the private sector body concerned,

to persons who held the securities immediately before they were so transferred.

(2)     The Treasury must by order make provision for determining the amount of any compensation payable to persons

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