Central Bank Act 1971 (Approval of Scheme of The Royal Bank of Scotland N.V. and The Royal Bank of Scotland plc) Order 2012.
Statutory Instruments
Source: Statutory Instruments

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paragraphs: This Order may be cited as the Central Bank Act 1971 (Approval of Scheme of The Royal Bank of Scotland N.V. and The Royal Bank of Scotland plc) Order 2012.
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paragraphs: In this Order—
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paragraphs: The Scheme is approved.
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paragraphs: (1) On the Transfer Date subject to the terms and conditions of the Agreement, the Assets and Liabilities shall be transferred, assigned or conveyed to or deemed to have been transferred, assigned or conveyed to, and assumed by, the Transferee and shall become as and from the Transfer Date assets, property, chattels, rights, contracts, arrangements, liabilities or obligations (as the case may be) of the Transferee and accordingly where such transfer relates to any interest that another party has in the matters so transferred:
(a) that party shall continue to have that interest which shall be exercisable by or against the Transferee in the same manner as was exercisable by or against the Transferor before the Transfer Date, and
(b) the Transferee, together with each and every other such party shall be bound by the terms of, or attaching to, such assets, property, chattels, rights, contracts, arrangements, liabilities or obligations in every way as if the Transferee were a party to those terms in substitution of the Transferor.
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paragraphs: (1) On and from the Transfer Date:
(a) for the purposes of section 4 of the Bankers’ Books Evidence Act 1879, any book to which that Act applies by virtue of paragraph 2.8 of the Scheme shall, on being proved to be in the custody of the Transferee, be deemed to be one of the ordinary books of the Transferee and any entry therein purporting to have been made before the Transfer Date shall be deemed to have been made in the ordinary course of business, and
(b) in paragraph 2.8 of the Scheme and in this Article “books” has the same meaning as “bankers books” in the Bankers’ Books Evidence Acts 1879 to 1989.
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paragraphs: Any contract of guarantee, indemnity, letters of credit or other contract or suretyship, loan agreement, facility agreement or facility letter, lease, hire purchase agreement, deposit agreement, charge, mortgage, assignment, pledge, swap, option, forward, future or other derivative contract, bond, warrant, foreign exchange contract or any other contract, agreement or instrument undertaken or entered into by the Transferor with any person in the course of or incidental to the Business in force or in effect immediately prior to the Transfer Date shall be transferred or assigned or deemed to have been transferred or assigned to the Transferee and shall become from that date a contract, agreement or instrument between the Transferee and that person with the same rights (including rights of set-off) as would have been applicable thereto if such contract, agreement or instrument between the Transferor and such person had continued and any order, instruction, direction, mandate or authority given, whether before or after that date, by that person in relation to any such contract, agreement or instrument and subsisting at the Transfer Date shall apply and have effect after the transfer of such contract, agreement or instrument to the Transferee as aforesaid and all monies which at the Transfer Date are or may be or become payable to the Transferee pursuant thereto and the proceeds of any claim, awards and judgments which at the Transfer Date are or may be or become receivable or received by the Transferor pursuant thereto and all other rights and benefits whatsoever accruing to the Transferor under or by virtue of any such contract, agreement or instrument shall become due and payable by that person to the Transferee instead of the Transferor.
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paragraphs: Any contract as defined in the Scheme entered into in the course of or incidental to or relating to the Business and any Securities in respect of that Business between the Transferor and any other parties shall be transferred and assumed by or deemed to have been transferred to and assumed by the Transferee on the Transfer Date and shall become as and from that date a contract, arrangement or obligation (as the case may be) between the Transferee and that person with the same rights and subject to the same obligations and incidents as would have been applicable to it if such contract, arrangement or obligation (as the case may be) between the Transferor and such person had continued without the substitution duly provided for and the Transferee together with each and every other party to such contract, arrangement or obligation shall be bound by its terms in every way as if the Transferee were party to it in substitution of the Transferor.
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paragraphs: The Transferor shall, in respect of the Assets and Liabilities at any time after the Transfer Date execute all such deeds, assurances and instructions of whatsoever nature and do all such acts and things as required for the purpose of effecting the transfer of the Assets and Liabilities to the Transferee.
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paragraphs: On and from the Transfer Date the Transferee shall be entitled to remuneration at the same scale of fees and upon and subject to the same terms and conditions as were applicable to the Transferor immediately before the Transfer Date in connection with the Assets and Liabilities.
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paragraphs: On and from the Transfer Date all books and other documents which would, before the Transfer Date, have been evidence in respect of any matter for or against the Transferor relating to the Assets and Liabilities shall be admitted in evidence in respect of the same matter for or against the Transferee.
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paragraphs: A reference (express or implied) to the Transferor in any contract, agreement, deed or instrument entered into relating to the Assets and Liabilities made or executed before the Transfer Date shall be read and construed as a reference to the Transferee.
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paragraphs: Any instruction, order, direction, mandate or authority given to the Transferor in the course of or incidental to or relating to the Business and consisting immediately before the Transfer Date shall be deemed to have been given to the Transferee.
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paragraphs: Articles 4 to 12 are subject to the following:
(a) any asset, property, right, contract, arrangement, liability or obligation forming part of the Excluded Business held or owned by the Transferor, or, as applicable, between the Transferor and any other party in force or effect on the Transfer Date, shall not be transferred or assumed or deemed to be so transferred or assumed and each such asset, property, right, contract, arrangement, liability and obligation shall remain held or owned by the Transferor and where applicable, in full force and effect in accordance with its terms between the Transferor and the relevant party, and
(b) a provision of this Order shall not take effect in relation to any asset, property, right, contract, arrangement, liability or obligation forming part of the Excluded Business held or owned by the Transferor, or, as applicable, between the Transferor and any other party in force or effect on the Transfer Date.