Part B Merger, Reorganization, and Insolvency of Banks, 9 UK Bank Mergers and Business Transfers

Subject(s):

Bank supervision — Mergers — Transfer of securities — Bank of England

This chapter considers Part VII of the Financial Services and Markets Act 2000 (FSMA), which introduced a new regime for the transfer of a banking business, together with broader legislation designed to facilitate cross-border mergers. It discusses the effect of Part VII; the scope of Part VII; procedures under Part VII; the effect of court sanction; the requirement for ring-fencing; the special rules applicable to ring-fencing transfer schemes; mergers and transfers of building societies and mutuals; and cross-border mergers regulations.