The Lloyds TSB Act 1998 (c. v) is a
local act
Proposed bills are often categorized into public bills and private bills. A public bill is a proposed law which would apply to everyone within its jurisdiction. A private bill is a proposal for a law affecting only a single person, group, or are ...
of the
United Kingdom Parliament
The Parliament of the United Kingdom of Great Britain and Northern Ireland is the supreme legislative body of the United Kingdom, and may also legislate for the Crown Dependencies and the British Overseas Territories. It meets at the Palace of ...
, to provide for the transfer to and vesting in
Lloyds Bank
Lloyds Bank plc is a major British retail banking, retail and commercial bank with a significant presence across England and Wales. It has traditionally been regarded one of the "Big Four (banking)#England and Wales, Big Four" clearing house ...
plc of the undertakings of
TSB Bank plc and Hill Samuel Bank Limited (members of the Lloyds TSB Group); and for connected purposes.
Background
The Lloyds TSB merger was structured as a reverse takeover; Lloyds Bank Plc was delisted from the
London Stock Exchange
The London Stock Exchange (LSE) is a stock exchange based in London, England. the total market value of all companies trading on the LSE stood at US$3.42 trillion. Its current premises are situated in Paternoster Square close to St Paul's Cath ...
and TSB Group plc was renamed
Lloyds TSB Group plc on 28 December 1995, with former Lloyds Bank shareholders owning a 70 per cent equity interest in the share capital, effected through a scheme of arrangement.
Objectives
The new bank commenced trading in 1999, after the statutory process of integration was completed. On 28 June, TSB Bank plc transferred engagements to Lloyds Bank plc which then changed its name to Lloyds TSB Bank plc; at the same time, TSB Bank Scotland plc absorbed Lloyds' three Scottish branches becoming Lloyds TSB Scotland plc.
This coincided with a new corporate identity and advertising campaign launched by the bank that year, which saw the introduction of a revised version of the Lloyds Bank black horse (placed upon a background combining the Lloyds green and TSB blue color schemes) as the combined bank's new logo, and the adoption of the new slogan "Your Life, Your Bank".
See also
*
HBOS Group Reorganisation Act 2006
The HBOS Group Reorganisation Act 2006 (c. i) is a local act of Parliament, passed by the Parliament of the United Kingdom in June 2006. The aim of the act was to provide HBOS plc, a banking and insurance group in the UK, the legal authority t ...
External links
Lloyds TSB Act 1998
{{DEFAULTSORT:Lloyds TSB Act 1998
United Kingdom Acts of Parliament 1998
Lloyds Banking Group
Banking legislation in the United Kingdom