*Re Barclays Bank plc and another

Financial services – Ring-fencing transfer schemes. The Financial Services and Regulatory List ruled on the first application to sanction a proposed ring-fencing transfer scheme (the scheme) under s 111 of the Financial Services and Markets Act 2000 (FSMA 2000). In granting the application made by Barclays Bank plc and Woolwich Plan Managers Ltd, the court held that the statutory pre-conditions for the sanction of the scheme had been or would be satisfied, that (pensions) representations concerning the Barclays Bank UK Retirement Fund did not provide any basis for the court to refuse to sanction the scheme, and that it was appropriate, in all the circumstances, to sanction it under s 111(3) of FSMA 2000.

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