Webbo Posted 6 January 2013 Posted 6 January 2013 click on the references link number 23 ( in the wiki article) below that and it seems to contradict that , or maybe i'm misunderstanding it .I must admit that this stuff makes my head spin though . Subject to this, I can provide the following information in response to your questions. BOEN acts as a nominee company to hold securities on behalf of certain customers. BOEN acts as a nominee company to hold securities on behalf of certain customers. It is a private limited company, incorporated in England and Wales in 1977, and is a wholly-owned subsidiary of the Bank. The shareholders are the Bank and John Footman, who holds his share as nominee on behalf of the Bank. The directors are John Footman and Andrew Bailey. The Secretary of State has granted BOEN an exemption under section 796 Companies Act 2006, which means that BOEN is not subject to the notification provisions in section 793 Companies Act 2006. The exemption has been granted to a subsidiary of the Bank because it is intended to apply only to BOEN and persons on whose behalf securities are held by BOEN, rather than the Bank itself. I don't pretend to understand it all. My reading of it is that it's a vehicle for the (govt owned) bank to do some private business. I accept though that I might be wrong.
Zingari Posted 6 January 2013 Posted 6 January 2013 I don't pretend to understand it all. My reading of it is that it's a vehicle for the (govt owned) bank to do some private business. I accept though that I might be wrong. My conspiratorial nature tells me it's deliberately obscure to keep us all in the fookin dark
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