The Kaupthing Singer & Friedlander Limited Transfer of Certain Rights and Liabilities (Amendment) Order 2009

• Citation: S.I. 2009/308
• Sections: 2

Section 1 Citation and commencement

(1) This Order may be cited as the Kaupthing Singer & Friedlander Limited Transfer of Certain Rights and Liabilities (Amendment) Order 2009.

(2) This Order comes into force on 20th February 2009.

Section 2 Amendments to the Kaupthing Singer & Friedlander Limited Transfer of Certain Rights and Liabilities Order 2008

The Kaupthing Singer & Friedlander Limited Transfer of Certain Rights and Liabilities Order 2008 is amended as follows—

(a) in article 14—

(i) in paragraph (1), for “(net of all costs and liabilities incurred by Deposits Management (Edge)) in connection with the first or second transfer or its obligations under this Order” substitute “(net of all costs and liabilities incurred by Deposits Management (Edge) in connection with the first or second transfer or its obligations under this Order)”;

(ii) after paragraph (5), insert—

(5A) If the Treasury, the FSCS , Kaupthing and ING agree that it is not appropriate or reasonable to make (or to continue to make) the revisions specified in paragraph (5)(a) and (b), no revision (or no further revision) may be made under those provisions.

(b) in article 16(5), for “relevant qualifying deposit” substitute “relevant protected deposit”;

(c) in article 21(11)(c), omit the words from “and the Treasury” to the end.