Commentary on Sections Multiple Transfers Section 152: Property transfer from temporary public sector ownership
359.This section applies in the case where the Treasury brings a bank (or bank’s holding company) into temporary public ownership and later makes an onwards property transfer order from that entity.
360.Subsection (2) provides that the bank administration procedure can be applied to the residual bank left in temporary public ownership following the transfer under the property transfer order.
361.Under subsection (3) the Treasury may make regulations modifying the application of the bank administration procedure. The regulations are subject to the affirmative procedure,  or in the first instance the 28 day procedure, as provided by section 259.