Commentary on Sections The stabilisation options Section 11: Private sector purchaser
42.Where both the general conditions of section 7 and the specific conditions for the private sector purchaser stabilisation option of section 8 are met, subsection (1) allows the Bank of England to sell all or part of the business of a bank to a commercial purchaser.
43.Subsection (2) provides that this transfer may be effected through either a transfer of the bank’s shares and other securities, or some or all of its property, rights and liabilities. Both types of transfer are executed by instruments made by the Bank (a share transfer instrument (see section 15) or a property transfer instrument (see section 33)).