Cap. 257 чл. 4Additional effects of transfer of relevant business.

(1) Without prejudice to the generality of the provisions of article 3 of this Act, where the relevant business is transferred as provided in that article -

(a) every contract relating to the relevant business in force instead of Barclays Bank;

(ii) for any reference (however worded and whether express or implied) to Barclays Bank there were substituted, as respects anything falling to be done on or after the operative date, a reference to the transferee company; and

(iii) for any reference (however worded and whether express or implied) to the directors or to a director, officer or servant of Barclays Bank there were substituted, as respects anything to be done on or after the operative date, a reference to the directors or to a director, officer or servant (as the case may require) of the transferee company; and the provisions of sub-paragraphs (ii) and (iii) of this paragraph shall apply to any other contract or document relating to the relevant business and in force on the operative date as they apply in relation to a contract to which Barclays Bank is a party;

(b) every account relating to the relevant business between Barclays Bank and any other person shall on and after the operative date become an account between the transferee company and that other person subject to the same terms, conditions and incidental matters as applied before that date, and any such account shall be deemed for all purposes to be a single continuing account;

(c) any instruction, direction, mandate, power of attorney, authority or consent given to Barclays Bank in relation to the relevant business and in force on the operative date shall continue to have effect, on and after that date, as if given to the transferee company;

(d) any negotiable instrument or order for payment of money, whether drawn, given, accepted or endorsed before, on or after the operative date, which relates to the relevant business and is expressed to be drawn on, or given to, or accepted or endorsed by, Barclays Bank, or payable at any place of business of Barclays Bank, shall have effect, on and after the operative date, as if it had been drawn on, or given to, or accepted or endorsed by, the transferee company, or payable at the same place of business of the transferee company, as the case may require;

(e) any security transferred to the transferee company which immediately before the operative date was held by Barclays Bank as security for the payment or discharge of any debt, liability or obligation shall, on future advances or liabilities shall, on and after the operative date, be held by and be available to the transferee company as security for future advances by and future liabilities to the transferee company in the same manner in all respects as future advances by or liabilities to Barclays Bank were secured thereby before that date;

(f) any judgment or award obtained by or against Barclays Bank in relation to the relevant business before the operative date and not fully satisfied on that date shall, on and after that date, be enforceable by or against the transferee company.

(2) Where by the operation of any of the provisions of this Act any right, liability or obligation becomes a right, liability or obligation of the transferee company, that company and any other person shall, on and after the operative date, have the same rights, powers and remedies for ascertaining or enforcing that right, liability or obligation as if it had at all times been a right, liability or obligation of the transferee company, and any legal proceedings, or any arbitration proceedings, or applications to any authority, pending immediately before the operative date by or against Barclays Bank, shall, on and after that date, be continued by or against the transferee company.

(3) Where on or after the operative date any person dies leaving property in Malta and by a will executed before that date appoints or purports to appoint Barclays Bank to be executor thereof, such will shall be construed to have effect as if for any reference therein to Barclays Bank there were substituted a reference to the transferee company.