Section 66A — Finance Act 2003: Resolution of financial institutions

Resolution of financial institutions 66A 1 A land transaction is exempt from charge if it is effected by—

a an instrument listed in subsection (2), or b an instrument made under an instrument listed in subsection (2).

2 The instruments are—

a a property transfer instrument made in accordance with section 12(2) of the Banking Act 2009 (transfer to a bridge bank),

b a property transfer instrument made in accordance with section 12ZA(3) of that Act (transfer to asset management vehicle),

c a supplemental property transfer instrument made in accordance with section 42(2) of that Act where the original instrument was made in accordance with section 12(2), 12ZA(3) or 41A(2) of that Act, d a property transfer instrument made in accordance with section 41A(2) of that Act (transfer of property subsequent to resolution instrument),

e a bridge bank supplemental property transfer instrument made in accordance with section 44D(2) of that Act, f a property transfer order made in accordance with section 45(2) of that Act (temporary public ownership: property transfer), ... g a third-country instrument made in accordance with section 89H(2) or 89I(4) of that Act. h a property transfer instrument made in accordance with paragraph 29(3) (bridge central counterparty) of Schedule 11 to the Financial Services and Markets Act 2023 (central counterparties),

i a property transfer instrument made in accordance with paragraph 66(2) of that Schedule (transfer of property subsequent to resolution instrument),

j a supplemental property transfer instrument made in accordance with paragraph 67(2) of that Schedule (supplemental instruments) where the original instrument was made in accordance with paragraph 29(3) of that Schedule, k a property transfer instrument made in accordance with paragraph 71(2) (transfer of ownership and private sector purchaser: property transfer) where the original instrument was made in accordance with paragraph 30(2) of that Schedule (transfer of ownership), or l a third-country instrument made in accordance with paragraph 145(2) (third-country resolution actions) or 146(4) (effects of recognition on third-country resolution action) of that Schedule.

3 References in subsection (2) to a provision of the Banking Act 2009 include references to that provision as applied by or under any other provision of that Act (including where it is applied with modifications or in a substituted form).