Re Santander UK plc and another company

Bank – Regulation of financial services. Santander UK plc and Abbey National Treasury Services plc succeeded in their application to the court for the sanction of a ring-fencing transfer scheme, under Pt VII of the Financial Services and Markets Act 2000. The Chancery Division held that, in all the circumstances, and in line with the answers given by the skilled person to the statutory question and the assessment of the Regulators, there was no reason to refuse sanction of the scheme.

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