Citation, commencement, retrospective effect and interpretation

1.–(1) This Order may be cited as the Amendments to Law (Resolution of Dunfermline Building Society) (No. 2) Order 2009.

(2) This Order comes into force immediately on it being made, but the amendments made by article 2 (including the Schedule introduced by article 2(5)) have effect from 8 a.m. on 30th March 2009 (being the time at which the Property Transfer Instrument came into force(4)).

(3) In this Order, "the Property Transfer Instrument" means the Dunfermline Building Society Property Transfer Instrument 2009.(5)

Amendments to Property Transfer Instrument

2.–(1) The Property Transfer Instrument is amended as follows.

(2) In paragraph 2(6) (interpretation: general) for the definition of "commercial loan" substitute–

""commercial loan" means–

(a) a loan, including a mortgage loan, made or agreed to be made by or on behalf of Dunfermline and which at the transfer time is designated in Dunfermline´s books and records with one of the reference numbers set out in the Schedule;

(b) the loans acquired by Dunfermline on 15th April 2004 from DB UK Bank Limited (company registered number 00315841) and Morgan Grenfell (Local Authority Finance) Limited (company registered number 01672903) and identified in Dunfermline´s books and records as "Dortmund" loans;".

(3) In paragraph 2 omit the definition of "commercial mortgage loan".

(4) In paragraph 3(3)(e) omit "or commercial mortgage loans" and omit "and commercial mortgage loans" (in both places where it occurs).

(5) At the end insert the Schedule set out in the Schedule to this Order.

SCHEDULE Schedule inserted by article 2(5)

Paragraph 2

"SCHEDULE COMMERCIAL LOANS: REFERENCE NUMBERS

EXPLANATORY NOTE

(This note is not part of the Order)

This Order amends the Dunfermline Building Society Property Transfer Instrument 2009 ("the Property Transfer Instrument"), by providing a new definition of "commercial loan" (in place of the definitions of "commercial loan" and "commercial mortgage loan"). This definition is used to exclude property, rights and liabilities that would otherwise have been transferred to Nationwide Building Society by paragraph 3 of the Property Transfer Instrument.

The amendments are made with retrospective effect from the time at which the Property Transfer Instrument came into force (which was 8 a.m. on 30th March 2009: Property Transfer Instrument, paragraph 1(2)). The Property Transfer Instrument will accordingly be treated as having contained the new definition of commercial loan at the time at which it operated to transfer part of Dunfermline Building Society´s business to Nationwide Building Society under paragraph 3.