11A.— (1) The Minister shall, for the purpose of advancing the winding up of IBRC, as soon as practicable after the coming into operation of section 19 of the Act of 2026, give a direction in writing to—

(a) the special liquidator and the Agency, or

(b) the special liquidator and a subsidiary of the Agency,

to enter into an agreement (in this Act referred to as a “transfer agreement”), whether by deed or otherwise, for the transfer to the Agency or such subsidiary of the Agency, as the case may be, whether by assignment, delivery, transfer or otherwise, of such residual matters as are specified in the transfer agreement to which the direction relates.

(2) The transfer of a residual matter shall—

(a) subject to section 11B(2), take effect on such date (in this Act referred to as the “transfer date”) as is specified in the transfer agreement, and

(b) be on such terms and conditions as may be specified in that agreement.

(3) More than one direction may be given under subsection (1) and more than one transfer agreement may be entered into for the purposes of complying with a direction given under that subsection.

(4) A person to whom a direction is given under subsection (1) shall comply with the direction.

(5) A certificate issued by the Agency or a subsidiary of the Agency, as the case may be, stating either or both of the following shall be proof of that fact in the absence of evidence to the contrary:

(a) that a residual matter has been transferred to the Agency or the subsidiary of the Agency, as the case may be;

(b) the transfer date.

(6) In this section and sections 11B to 11D—

“asset” includes a bank asset;

“bank asset” includes—

(a) a credit facility,

(b) any security relating to a credit facility,

(c) every other right arising directly or indirectly in connection with a credit facility,

(d) every other asset owned by IBRC that relates to a credit facility, and

(e) an interest in a bank asset referred to in any of paragraphs (a) to (d);

“interest”, in relation to a bank asset, means—

(a) the whole or any part or fraction of the bank asset,

(b) any other estate in, right or title to or interest in, the bank asset (whether legal or beneficial), or

(c) any interest, other than a legal or beneficial interest;

“proceedings” means any legal proceedings (including judicial, arbitral or other forms of dispute resolution and any related counterclaim or cross-claim) to which IBRC, any subsidiary of IBRC or the special liquidator is a party which are commenced but not concluded by full and complete satisfaction of any judgments or orders made in those proceedings on or before the transfer date relating to those proceedings;

“residual matter” means any asset, liability, right, entitlement (including under any judgment or order of any court or tribunal), obligation of any nature or kind, or proceedings, and includes any related database, document, record or information, of or relating to IBRC, any subsidiary of IBRC or the special liquidator.]