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(4) The Bank shall have full power to use any of the powers conferred by, and to achieve or try to achieve any of the objects set out in, any one or more of the provisions of paragraph 1.

(5) In this Schedule, unless the subject or context requires otherwise, the following terms shall have the following meanings—

  • “acquire” means to acquire in any way, including purchasing, taking options over, taking on lease or in exchange, hiring, subscribing for, or otherwise acquiring, and for any kind of estate or interest, whether directly or indirectly, by contract, tender, underwriting or in any other way and on any terms and conditions;

  • “the Bank” means Bank of Scotland plc;

  • “company” includes any company or corporate body established anywhere in the world;

  • “holding company” has the same meaning as in the Companies Act 1985 (c. 6), except that it also includes any other parent undertaking, as defined in that Act;

  • “person” includes a body of persons corporate or unincorporated;

  • “property” includes real, heritable, moveable and personal property of any kind and any interest in, or right to, any such property;

  • “securities” include any shares, stocks, debentures, debenture stock, bonds, notes or warrants, whether fully or partly paid; and

  • “subsidiary” has the same meaning as in the Companies Act 1985, except that it also includes any other subsidiary undertaking, as defined in that Act.

Sections 8 and 23

SCHEDULE 2 Repeals

Part 1 Bank of Scotland

Title and reference Extent of repeal
An Act of the Parliament of Scotland, 5 William III, 17 July 1695, for Erecting a Bank in Scotland

In the copy printed in Edinburgh by the King’s printer of Acts of the Parliament of Scotland—

  • from the words “which shall lie open” on line 24 of page 3 to the words “carrying on the Bank,” on line 4 of page 4;

  • the words “under which Name,” on line 8 of that page;

  • the words “and shall have a common seal,” on line 9 of that page;

  • the words “by the Name foresaid,” on line 10 of that page;

  • from the words “And for the better Ordering” on lines 17 and 18 of that page to the words “allanarly, in whose Favours this Act is granted” on line 47 of page 6.

The Bank of Scotland Act 1873 (c. xcix) The whole Act.
Bank of Scotland Act 1920 (c. xxxi) The whole Act.
Bank of Scotland Order Confirmation Act 1954 (c. lvi) Section 15 of the Schedule.

Part 2 Clerical, Medical and General Life Assurance Society

Title and reference Extent of repeal
The Clerical, Medical and General Life Assurance Act 1961 (c. xii) The whole Act.
The Clerical, Medical and General Life Assurance Act 1974 (c. xi) The whole Act.