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An Act to make new provision for the regulation and management of the
Governor and Company of the Bank of Scotland upon its registration as a public company under the Companies Act 1985; to provide for the transfer of the undertakings of Capital Bank plc, Halifax plc and HBOS Treasury Services plc to
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The transfer of assets and liabilities from one bank to another also requires the consent of the account holders. For institutions such as the
Halifax, this would involve seeking the consent of millions of people, and would be impractical. Thus an act of Parliament gives HBOS the statutory authority
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was unusual in its legal structure, as it was a company formed under statute, the 1695 act, and was governed under the provisions of that act and successive acts of
Parliament relating to the bank. The most important was the
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the
Governor and Company of the Bank of Scotland; to provide for the transfer of the assets of the Clerical, Medical and General Life Assurance Society to Clerical Medical Investment Group Limited; and for connected purposes.
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to HBOS's subsidiary, Clerical
Medical Investment Group Limited and dissolve the society. The bulk of the Society's assets were acquired by Halifax plc in 1997, although some residual assets were not transferred at that
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190:. These two banks are the main UK subsidiaries of HBOS, although they themselves operate various other subsidiary companies. The Bank of Scotland was incorporated by an act of the
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174:, a banking and insurance group in the UK, the legal authority to reorganise its subsidiaries into a simplified structure. It came into effect on 17 September 2007.
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in 1695, and operates under the authority of this act and subsequent other acts passed in 1873, 1920, 1954 and 1970. Halifax is a
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changing the legal status of the
Governor and Company of the Bank of Scotland to a public limited company (Bank of Scotland plc);
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HBOS plc is a banking and insurance holding company and was created on 10 September 2001 from the merger of the
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HBOS Group wished to restructure the bank into a public limited company (plc) governed under the
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transferring the assets and liabilities of HBOS's UK banking subsidiaries (Halifax plc,
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and was created in 1997 from the demutualisation of the
Halifax Building Society.
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as in force today (including any amendments) within the United
Kingdom, from
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The main aim of the Act is to simplify HBOS's operating structure, namely:
82:
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to transfer accounts without seeking individual account holder approval.
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The act also allowed the company to retain the right to print banknotes.
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Select
Committee on HBOS Group Reorganisation Bill Minutes of Evidence
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217:, and HBOS Treasury Services plc) to the new company ;
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Clerical, Medical and
General Life Assurance Act 1974
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Clerical, Medical and General Life Assurance Act 1961
280:
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Clerical, Medical and General Life Assurance Society
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170:in June 2006. The aim of the act was to provide
146:Text of the HBOS Group Reorganisation Act 2006
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469:Lloyds Bank General Insurance (underwriter)
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192:Parliament of Scotland
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390:St James's Place Bank
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3038:1994 to date
2973:institutions
2932:1972 to date
2908:Short titles
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1724:Acts of the
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673:
544:Lewis's Bank
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291:Banks portal
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256:Capital Bank
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162:(c. i) is a
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93:Commencement
87:21 June 2006
83:Royal assent
15:
797:Magna Carta
662:Legislation
574:Porterbrook
539:Hill Samuel
441:Black Horse
366:Lloyds Bank
260:Halifax plc
188:Halifax plc
3116:Categories
2921:(formerly
492:Lloyds TSB
408:Commercial
178:Background
47:Long title
1744:1751–1800
1739:1701–1750
1535:1760–1764
1530:1755–1759
1525:1750–1754
1520:1745–1749
1515:1740–1744
1510:1735–1739
1505:1730–1734
1500:1725–1729
1495:1720–1724
1490:1715–1719
867:1422–1460
862:1413–1421
857:1399–1411
852:1377–1397
847:1327–1376
835:1308–1325
830:1275–1307
825:1225–1267
644:The Leeds
463:Insurance
71:Local act
62:2006 c. i
2971:devolved
2948:measures
715:Category
609:Bankwest
584:TSB Bank
434:Consumer
277:See also
172:HBOS plc
58:Citation
1734:to 1700
1426:to 1707
729:Commons
381:Halifax
485:Former
359:Retail
683:Other
225:time.
77:Dates
3047:for
3013:List
3001:List
2994:and
2985:List
2955:List
2888:2024
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2878:2022
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2868:2020
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1308:1680
1296:1679
1291:1678
1286:1677
1281:1675
1276:1672
1271:1670
1266:1667
1261:1666
1256:1665
1251:1664
1246:1663
1241:1662
1236:1661
1231:1660
1219:1640
1207:1627
1202:1625
1197:1623
1192:1620
1187:1609
1182:1606
1177:1605
1172:1603
1167:1601
1162:1597
1157:1592
1152:1588
1147:1586
1142:1584
1137:1580
1132:1575
1127:1572
1122:1571
1117:1566
1112:1562
1107:1558
1102:1557
1097:1555
1092:1554
1087:1553
1082:1551
1077:1549
1072:1548
1067:1547
1062:1546
1057:1545
1052:1543
1047:1542
1042:1541
1037:1540
1032:1539
1027:1536
1022:1535
1017:1534
1012:1533
1007:1532
1002:1531
997:1530
992:1529
987:1523
982:1515
977:1514
972:1513
967:1512
962:1511
957:1509
952:1503
947:1496
942:1495
937:1491
932:1488
927:1487
922:1485
917:1483
912:1482
907:1477
902:1474
897:1472
892:1468
887:1467
882:1464
877:1463
872:1461
595:HBOS
454:MBNA
234:The
186:and
158:The
3118::
258:,
2925:)
765:e
758:t
751:v
342:e
335:t
328:v
254:(
152:.
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