Central Bank Act 1971 (Approval of Scheme of Transfer between Northern Rock plc and Irish Life & Permanent plc (trading as permanent tsb)) Order 2011.
Statutory Instruments
Source: Statutory Instruments

num: 1
paragraphs: This Order may be cited as the Central Bank Act 1971 (Approval of Scheme of Transfer between Northern Rock plc and Irish Life & Permanent plc (trading as permanent tsb)) Order 2011.
num: 2
paragraphs: In this Order—
num: 3
paragraphs: The Scheme is approved.
num: 4
paragraphs: (1) On the Transfer Date subject to the terms and conditions of the Agreement, the Assets and Liabilities shall be transferred or conveyed to or deemed to have been transferred 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.
num: 5
paragraphs: (1) On and from the Transfer Date—
(a) for the purposes of Section 4 of the Bankers’ Books Evidence Act 1879 (42 & 43 Vic., c.11), any book to which that Act applies by virtue of paragraph 2.5 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 2.5 of the Scheme and in this article “books” has the same meaning as “bankers books” in the Bankers’ Books Evidence Acts 1879 to 1989.
num: 6
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.
num: 7
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.
num: 8
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.
num: 9
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.
num: 10
paragraphs: Articles 4 to 9 are subject to the following—