BANK OF SCOTLAND PLC

Shareholders of BANK OF SCOTLAND PLC

Bank of Scotland plc has three registered shareholders, and one holding that matters. The statement of capital at Companies House records HBOS plc with 23,388,340,552 ordinary shares of 25p, Bank of Scotland Edinburgh Nominees Limited with one ordinary share of 25p, and Lloyds Bank plc with 400 preference shares of 25p. Those rows total a statement of capital of £5,847,085,238.25, the figure carried on the form SH01 filed on 7 October 2020, and they reconcile exactly to note 27 of the bank’s accounts for the year ended 31 December 2025, which records 23,388,340,553 issued and fully paid ordinary shares of 25p (£5,847 million) and 400 issued preference shares of 25p. The bank states in that note that the ordinary shares represent effectively 100 per cent of total share capital in issue, the preference shares representing below 0.01 per cent. The position was last confirmed to the register by the confirmation statement dated 6 May 2026.

HBOS plc therefore holds 23,388,340,552 of the 23,388,340,553 ordinary shares, a fraction under 100 per cent. Voting rights attach to the ordinary shares: note 27 records that holders of ordinary shares may attend, speak and vote at general meetings, and that there are no limitations on voting rights or restrictions on transfer beyond the articles of association and general law. The remaining single ordinary share is registered to Bank of Scotland Edinburgh Nominees Limited, which is itself one of the bank’s own subsidiary undertakings in the list of related undertakings in the FY2025 accounts. There is a small, dated inconsistency worth stating rather than resolving: the directors’ report for 2025 says in its DTR 7.2 disclosure that the bank is a wholly owned subsidiary of HBOS plc which holds all of the bank’s issued ordinary share capital, while the filed statement of capital shows one ordinary share registered to the nominee company. The filings reviewed do not say on whose behalf the nominee holds it, so both statements are given here as filed.

The 400 preference shares held by Lloyds Bank plc are a distinct class and should not be reported as a nil or zero per cent holding, which is what a rounded percentage makes of them. They are classified as liabilities rather than equity under accounting standards and are included in note 26; their rights are set out in the bank’s articles of association and in the form SH01 uploaded by Companies House on 22 January 2010. The bank’s authorised preference classes are 8.117 per cent and 7.754 per cent non-cumulative perpetual preference shares of £10 each, which are separate from the 25p preference shares actually in issue.

The register of people with significant control corroborates the position and states the nature of the control. Bank of Scotland plc has one active person with significant control and no PSC statements: HBOS plc, registered in Scotland under number SC218813, governing law Scots law, correspondence address The Mound, Edinburgh EH1 1YZ, notified on 6 April 2016, under three limbs — ownership of shares of 75 per cent or more, ownership of voting rights of 75 per cent or more, and the right to appoint or remove directors. The notification date of 6 April 2016 is the date the PSC regime commenced in the United Kingdom, not the date HBOS plc acquired its holding, which long predates it.

A corporate PSC entry names the first registrable legal entity in a chain, which need not be the immediate holder, so a single PSC entry does not on its own prove a direct holding. Here the entry does coincide with the immediate holder, and that is established independently by the share register above and by note 37 of the FY2025 accounts, which names HBOS plc as the bank’s immediate parent undertaking. One further point on identity: HBOS plc is a financial services holding company, recorded at Companies House under SIC 64205, and it is not an authorised bank. The Bank of England’s list of 281 UK-incorporated banks authorised to accept deposits, as at September 2026, contains Bank of Scotland plc, Lloyds Bank PLC and Lloyds Bank Corporate Markets Plc but no entry for HBOS plc. The deposit-taking permission, Firm Reference Number 169628 and the banknote issuance authority belong to Bank of Scotland plc.

Ultimate beneficial ownership

No natural person is an ultimate beneficial owner of Bank of Scotland plc. That is a positive finding from the registers rather than a disclosure gap, and it is worth being precise about which of the three possible PSC positions applies. A UK PSC register can show a named individual; a corporate or other legal entity as the first registrable person; or a statement that no registrable person or relevant legal entity has been identified. This company is in the second position: a corporate PSC, HBOS plc, is registered, with no PSC statements on the record.

Following the chain upwards, HBOS plc’s own PSC register names Lloyds Bank plc (00002065), and Lloyds Bank plc’s PSC register names Lloyds Banking Group plc (SC095000). Lloyds Banking Group plc’s PSC page is empty for a specific and dated reason, which its own banner gives: from 26 November 2018 the company is exempt from the requirement to obtain PSC information because it has voting shares admitted to trading on a UK regulated market. This is the listed-market exemption, not an affirmative “no PSC identified” statement and not an unregistrable foreign parent. The chain therefore terminates in a widely held listed company. Lloyds Banking Group plc’s own annual report for 2025 records 2,050,775 ordinary shareholders across 58,885,743,602 shares, and the only substantial shareholders notified to it under Rule 5 of the Disclosure Guidance and Transparency Rules as at 31 December 2025 were BlackRock, Inc. at 5.14 per cent and Norges Bank at 3.02 per cent. No holding anywhere in the chain approaches a level from which an individual beneficial owner of this bank could be traced.

Data availability

Complete at company level, and the stored data is right. A UK company’s confirmation statement records its whole membership, so unlike a listed issuer there is no residual shareholder base hidden behind a reporting threshold here. The three structured shareholder rows attached to this profile match the filed statement of capital exactly, share for share; that is unusual in this dataset and is recorded as correct. The one thing the register does not show is the beneficial position behind the single nominee-registered share, and at 23,388,340,552 of 23,388,340,553 ordinary shares that does not change any conclusion.

Positive controls for the two absences stated above. The claim that SC327000 has no previous registered name was tested by fetching the Companies House overview pages for Lloyds Bank plc (00002065) and Lloyds Banking Group plc (SC095000) by the same method: both return populated previous-company-names tables, five entries and two entries respectively, so the absence on SC327000 is real and not a parsing failure. The claim that HBOS plc is not a PRA-authorised bank was tested against the same Bank of England CSV that returns Bank of Scotland plc, Lloyds Bank PLC and Lloyds Bank Corporate Markets Plc, so the file and the search form both work. A caveat on one source: the FCA Financial Services Register’s own web interface could not be read programmatically for this profile, so the FRN, trading names and authorised status here come from the Bank of England’s PRA-authorised banks list, the FSCS bank and savings checker and the bank’s own published regulatory statement rather than from a direct read of that register.

Sources

• Companies House, persons with significant control for BANK OF SCOTLAND PLC (SC327000), notified 6 April 2016, retrieved 30 September 2026: https://find-and-update.company-information.service.gov.uk/company/SC327000/persons-with-significant-control
• Companies House, persons with significant control for HBOS PLC (SC218813), retrieved 30 September 2026: https://find-and-update.company-information.service.gov.uk/company/SC218813/persons-with-significant-control
• Companies House, persons with significant control for LLOYDS BANK PLC (00002065), retrieved 30 September 2026: https://find-and-update.company-information.service.gov.uk/company/00002065/persons-with-significant-control
• Companies House, persons with significant control for LLOYDS BANKING GROUP PLC (SC095000), listed-market exemption dated 26 November 2018, retrieved 30 September 2026: https://find-and-update.company-information.service.gov.uk/company/SC095000/persons-with-significant-control
• Companies House, filing history for SC327000, including form SH01 filed 7 October 2020 (statement of capital GBP 5,847,085,238.25) and form SH01 of 22 January 2010, retrieved 30 September 2026: https://find-and-update.company-information.service.gov.uk/company/SC327000/filing-history
• Bank of Scotland plc, Annual Report and Accounts 2025, approved 26 February 2026, notes 26, 27 and 37 and the DTR 7.2 disclosure in the directors’ report, retrieved 30 September 2026: https://www.lloydsbankinggroup.com/assets/pdfs/investors/financial-performance/bank-of-scotland-plc/2025/q4/2025-bos-annual-report.pdf
• Lloyds Banking Group plc, Annual Report and Accounts 2025, shareholder information (major shareholders and analysis of shareholders), retrieved 30 September 2026: https://www.lloydsbankinggroup.com/assets/pdfs/investors/financial-performance/lloyds-banking-group-plc/2025/q4/2025-lbg-annual-report.pdf
• Bank of England, list of banks incorporated in the UK authorised to accept deposits, data as at September 2026, retrieved 30 September 2026: https://www.bankofengland.co.uk/-/media/boe/files/prudential-regulation/authorisations/which-firms-does-the-pra-regulate/2026/banks-list-2609.csv
• Companies House overview pages used as previous-names positive controls, retrieved 30 September 2026: https://find-and-update.company-information.service.gov.uk/company/00002065 and https://find-and-update.company-information.service.gov.uk/company/SC095000

Directors and officers of BANK OF SCOTLAND PLC

Companies House records 73 officer appointments in total for Bank of Scotland plc and 57 resignations, leaving 16 current appointments: 15 directors and one company secretary. Companies House does not record board roles, so the roles below come from the bank’s own Annual Report and Accounts 2025, whose list of current directors was approved with the report on 26 February 2026.

The two executive directors are Charlie Nunn, Group Chief Executive, and William Chalmers, Chief Financial Officer. The chair is Sir Robin Budenberg CBE, who signs the strategic report, and Nigel Hinshelwood is Senior Independent Director. The other non-executive directors named in the report are Sarah Bentley, Nathan Bostock, Brendan Gilligan, Sarah Legg, Amanda Mackenzie LVO OBE, Harmeen Mehta, Cathy Turner, Chris Vogelzang and Catherine Woods. Kate Cheetham is Company Secretary and signs the directors’ report; she appears on the register as CHEETHAM, Catharine Lucy, appointed 1 July 2019, and is the only current secretary on the record.

Appointment dates for the current board, from the register: Amanda Felicity Mackenzie 1 October 2018; Sarah Elise Bentley, Brendan Edward Gilligan and Nigel Grant Hinshelwood 1 January 2019; Catharine Lucy Cheetham 1 July 2019; William Leon David Chalmers 1 August 2019; Sarah Catherine Legg 1 December 2019; Catherine Marie Woods 1 March 2020; Robin Francis Budenberg 1 October 2020; Charles Alan Nunn 16 August 2021; Harmeen Mehta 1 November 2021; Catherine Lucy Turner 1 November 2022; Nathan Mark Bostock 1 August 2024; Christiaan Franciscus Henricus Herman Vogelzang 16 June 2025; Danuta Gray 1 July 2026; and Kelly Brian Bennett 1 September 2026.

Nationality is recorded by Companies House in an explicit nationality field for each director, and is reported here on that basis alone. The register shows Kelly Brian Bennett as Canadian, Brendan Edward Gilligan and Catherine Marie Woods as Irish, Harmeen Mehta as Indian, Christiaan Vogelzang as Dutch, and Sarah Elise Bentley, Nathan Mark Bostock, Robin Francis Budenberg, William Leon David Chalmers, Danuta Gray, Nigel Grant Hinshelwood, Sarah Catherine Legg, Amanda Felicity Mackenzie, Charles Alan Nunn and Catherine Lucy Turner as British. No nationality is shown for the company secretary, which is recorded here as not disclosed. No date of birth is reproduced in this profile.

The bank’s FY2025 corporate governance statement records that it applies the Wates Corporate Governance Principles for Large Private Companies, that a single Corporate Governance Framework covers Lloyds Banking Group plc, the bank, HBOS plc and Lloyds Bank plc with all four companies sharing a common approach, and that the framework addresses the governance requirements of operating the bank as part of Lloyds Banking Group’s ring-fenced bank. The board delegates responsibilities to the Group Chief Executive, supported by the Group Executive Committee. The source filings do not state representation authority — whether officers may act individually or must sign jointly to bind the company — so that detail is not available here.

Recent officer changes

The directors’ report records only two board changes between 1 January 2025 and the date of the report: Chris Vogelzang joined the board on 16 June 2025, and Scott Wheway left it on 31 October 2025. Mr Wheway appears on the register as WHEWAY, Jonathan Scott, appointed 1 August 2022 and resigned 31 October 2025; the report uses the name Scott Wheway, and both forms are given here as filed. Two further appointments were made after the annual report was approved and so carry no board role in any filing reviewed: Danuta Gray on 1 July 2026 and Kelly Brian Bennett on 1 September 2026, both recorded on the register by forms AP01 filed on 10 July 2026 and 1 September 2026.

Data availability

Current and historic appointments are both fully published by Companies House for this company, and the stored data is close but not complete. The structured officer records attached to this profile hold 72 of the 73 appointments on the register and correctly flag 16 as current; each row carries the office in a job_title field, which is populated throughout. The one appointment missing from the stored set is Harold Francis Baines, company secretary, appointed 17 September 2007 and resigned 1 August 2012, who is on the Companies House register. The stored rows also carry no nationality field at all, which is why the nationalities above were taken from the register itself rather than from the stored data; the address_country value present in each row is an address country and is not nationality.

Two things visible on the register itself should be noted. An annotation sits against the form AP01 for Chris Vogelzang’s 16 June 2025 appointment, recording that it was replaced on 26 May 2026 because the original contained an error. Separately, 25 standalone annotations dated 13 and 14 February 2024 record that material formerly considered to form part of the register is no longer considered by the registrar to do so; the annotations carry no linked document and do not identify what that material was, so no conclusion is drawn from them here.

Sources

• Companies House, officers for BANK OF SCOTLAND PLC (SC327000), showing 73 officers and 57 resignations with appointment dates and nationalities, retrieved 30 September 2026: https://find-and-update.company-information.service.gov.uk/company/SC327000/officers
• Bank of Scotland plc, Annual Report and Accounts 2025, approved 26 February 2026, “Current directors” page 11, the directors’ report board-changes table and the corporate governance statement, retrieved 30 September 2026: https://www.lloydsbankinggroup.com/assets/pdfs/investors/financial-performance/bank-of-scotland-plc/2025/q4/2025-bos-annual-report.pdf
• Companies House, filing history for SC327000, including the AP01 filings of 10 July 2026 and 1 September 2026 and the annotations of 13 and 14 February 2024, retrieved 30 September 2026: https://find-and-update.company-information.service.gov.uk/company/SC327000/filing-history

Group structure of BANK OF SCOTLAND PLC

Bank of Scotland plc is part of Lloyds Banking Group, and has been since 16 January 2009. It is not held directly by Lloyds Banking Group plc: two companies sit in between, and both are named in filed accounts rather than inferred. Note 37 of Bank of Scotland plc’s accounts for the year ended 31 December 2025 states that its immediate parent undertaking is HBOS plc and its ultimate parent undertaking and controlling party is Lloyds Banking Group plc, incorporated in Scotland. Note 37 of HBOS plc’s own accounts for the same year states that HBOS plc’s immediate parent undertaking is Lloyds Bank plc and its ultimate parent undertaking and controlling party is Lloyds Banking Group plc. Reading the controlling-party notes rather than a single PSC entry is what establishes the middle link, because a corporate PSC entry names only the first registrable legal entity in a chain.

Verified corporate relationships

The dates come from filed accounts and from the register. Bank of Scotland plc’s own annual report for 2009 records that on 16 January 2009 Lloyds Banking Group plc acquired 100 per cent of the ordinary share capital of HBOS plc, the bank’s immediate parent company, and that on the same day the bank’s ultimate parent company, Lloyds TSB Group plc, changed its name to Lloyds Banking Group plc following that acquisition. Companies House corroborates the date independently: the previous-names table on Lloyds Banking Group plc’s record shows LLOYDS TSB GROUP PLC running from 28 December 1995 to 16 January 2009. The middle link was created a year later. Lloyds Bank plc’s own annual reports for 2014, 2015 and 2016 each state that HBOS was transferred to the Lloyds Bank plc group on 1 January 2010; at that date Lloyds Bank plc was still named Lloyds TSB Bank plc, a name its Companies House record shows it carried from 28 June 1999 to 23 September 2013.

Recent structural changes

Ring-fencing, and which side this bank is on. Ring-fencing is why the group contains more than one bank, and it determines what Bank of Scotland plc may do. Part 9B of the Financial Services and Markets Act 2000, inserted by section 4(1) of the Financial Services (Banking Reform) Act 2013, requires UK banking groups above a core-deposits threshold to keep retail and most commercial banking in a ring-fenced bank and to move excluded activities and prohibited exposures into a non-ring-fenced bank. The requirement had to be met by 1 January 2019. The separation was carried out by a ring-fencing transfer scheme under Part VII of FSMA, which is court-approved and public. In the matter of Lloyds Bank plc, Bank of Scotland plc and Lloyds Bank Corporate Markets plc, case FS-2017-000004, Mr Justice Hildyard sanctioned the scheme on 3 May 2018, having announced the decision on 12 April 2018 ([2018] EWHC 1034 (Ch)). Bank of Scotland plc was one of the two transferors, Lloyds Bank plc the other, and Lloyds Bank Corporate Markets plc — then newly formed and directly owned by Lloyds Banking Group plc — the transferee. The judgment records that the scheme met the definition of a ring-fencing transfer scheme in section 106B of FSMA, and that the application lay to the High Court under section 107(3)(b) and (4) because Lloyds Bank plc and the transferee are registered in England and Wales while Bank of Scotland plc is registered in Scotland.

The group chose to keep most of its business with the transferors and move out only the excluded business, so the transferring business was narrow: mainly complex derivatives, certain loan facilities with an embedded complex derivative, and certain transactions producing a prohibited exposure to a relevant financial institution, affecting roughly 3,200 customers, about 1 per cent of the Commercial Banking division’s customer entities. The scheme’s target effective date was 28 May 2018, with 16 July 2018 approved as a contingency. Bank of Scotland plc’s own 2018 accounts record that during that year it sold the element of its commercial banking and overseas businesses required to be transferred for ring-fencing compliance to Lloyds Bank Corporate Markets plc, and Lloyds Bank Corporate Markets plc’s 2018 accounts record business and companies transferring from other parts of the group during May to December 2018; neither filing reviewed states a single effective date, so 28 May 2018 is given here as the date the court approved rather than as a confirmed completion date. At the time of the scheme Bank of Scotland plc had a branch in New York providing commercial banking services and one in the Isle of Man providing retail and commercial banking services.

The outcome is that Bank of Scotland plc sits on the ring-fenced side. Its own FY2025 corporate governance statement refers to the governance requirements of operating the bank as part of Lloyds Banking Group’s ring-fenced bank, and the group’s published description of its structure places the majority of its Lloyds Bank, Bank of Scotland and Halifax banking activities in the ring-fenced sub-group, with Lloyds Bank Corporate Markets plc as the non-ring-fenced bank and separate sub-groups for insurance (Scottish Widows Group Ltd) and equity investments. The three banks are separately authorised: Bank of Scotland plc holds FRN 169628, Lloyds Bank PLC FRN 119278 and Lloyds Bank Corporate Markets Plc FRN 763256 on the Bank of England’s list. HBOS plc, the immediate parent, appears nowhere on that list because it is a holding company and not an authorised bank — although the FY2025 accounts note that the majority of the group’s staff are contractually employed by it.

Earlier transfers into this entity. Two are on the public record. The HBOS Group Reorganisation Act 2006 provided, alongside the bank’s registration as a public company, for the undertakings of Capital Bank plc, Halifax plc and HBOS Treasury Services plc to be transferred into the bank, which is why the Halifax business sits inside this legal entity today. Separately, on 31 December 2010 Bank of Scotland (Ireland) Limited, then the bank’s own subsidiary, was merged into the bank by a merger by absorption of a wholly owned subsidiary under the Companies (Cross-Border Mergers) Regulations 2007, all of its assets and liabilities transferring to the bank and the company being dissolved without going into liquidation. Companies House holds the CB01 notice filed on 24 August 2010 with a certified copy of a Court of Session order dated 20 August 2010, and the completion of cross-border merger filing of 14 December 2010.

Subsidiaries of Bank of Scotland plc

The authoritative list is the section 409 list of subsidiaries and related undertakings in the bank’s FY2025 accounts, as at 31 December 2025. It records 56 subsidiary undertakings in which the group directly or indirectly holds 100 per cent of the share class or a majority of voting rights, a further 23 entities the group controls without holding a majority of the voting rights, and one associated undertaking, Addison Social Housing Ltd, at 20 per cent. Named subsidiaries include The Mortgage Business plc, Halifax Loans Ltd, Halifax Vehicle Leasing (1998) Ltd, MBNA Ltd, Loans.co.uk Ltd, The British Linen Company Ltd, Bank of Wales Ltd, Bank of Scotland Structured Asset Finance Ltd, Automobile Association Personal Finance Ltd, Home Shopping Personal Finance Ltd, Bank of Scotland Edinburgh Nominees Ltd, and the six BOS (Shared Appreciation Mortgages) plcs together with three Scottish equivalents. Nine of the 56 are flagged as in liquidation, among them Bank of Wales Ltd, Lex Vehicle Leasing Ltd and Lex Vehicle Leasing (Holdings) Ltd. The 23 controlled entities are securitisation and funding vehicles in the Permanent, Penarth, Molineux, Elland, Wilmington and Syon programmes, plus Addison Social Housing Holdings Ltd.

Data availability

The chain above the company is complete and independently corroborated; the tree below it is not, and the structured corporate-linkage data attached to this profile contains errors that should not be repeated. The tree of 289 nodes places Bank of Scotland plc correctly at the fourth level, beneath Lloyds Banking Group plc, Lloyds Bank plc and HBOS plc, which matches both the accounts and the PSC registers. Below the bank it shows 30 direct subsidiaries where the accounts list 56 subsidiary undertakings plus 23 controlled entities, so it is not a complete list and should not be read as one.

Three of those 30 are misattributed and appear nowhere in the FY2025 list of related undertakings. Uberior Investments Limited (SC073998) is shown as a direct subsidiary of Bank of Scotland plc, but its own PSC register has named LBG Equity Investments Limited (02412574) as its controller since 20 November 2017, and the tree hangs a further ten nodes beneath it. Uberior Trading Limited (SC102957) is likewise shown as a direct subsidiary, while its PSC register has named Uberior Investments Limited since 14 September 2017. Legacy Renewal Company Limited (SC121126) is shown as a direct subsidiary, while its PSC register has named Halifax Financial Services (Holdings) Limited (02357558) since 17 August 2018. All three remain active companies filing accounts to 31 December 2025, so the defect is in the attribution and not in the currency of the companies. A separate defect sits one level up: the tree carries a node named “Bank of Scotland” with a New York identifier as though it were a subsidiary of Lloyds Bank plc, where the court judgment establishes that Bank of Scotland plc operated a New York branch, not a separate New York company. Treat the section 409 list in the accounts as the record and the tree as indicative only.

Sources

• Bank of Scotland plc, Annual Report and Accounts 2025, approved 26 February 2026, note 37, the corporate governance statement and the section 409 list of subsidiaries and related undertakings, retrieved 30 September 2026: https://www.lloydsbankinggroup.com/assets/pdfs/investors/financial-performance/bank-of-scotland-plc/2025/q4/2025-bos-annual-report.pdf
• HBOS plc, Annual Report and Accounts 2025, note 37 (other information), retrieved 30 September 2026: https://www.lloydsbankinggroup.com/assets/pdfs/investors/financial-performance/hbos-plc/2025/q4/2025-hbos-annual-report.pdf
• Bank of Scotland plc, Annual Report and Accounts 2009, recording the acquisition of HBOS plc by Lloyds Banking Group plc on 16 January 2009, retrieved 30 September 2026: https://www.lloydsbankinggroup.com/assets/pdfs/investors/financial-performance/bank-of-scotland-plc/archive/2009/2009-bos-ra.pdf
• Lloyds Bank plc, Annual Report and Accounts 2016, segmental reporting note recording the transfer of HBOS to the group on 1 January 2010, retrieved 30 September 2026: https://www.lloydsbankinggroup.com/assets/pdfs/investors/financial-performance/lloyds-bank-plc/archive/2016/2016-lb-annual-report.pdf
• Re Lloyds Bank plc, Bank of Scotland plc and Lloyds Bank Corporate Markets plc [2018] EWHC 1034 (Ch), case FS-2017-000004, judgment of Hildyard J of 3 May 2018, National Archives Find Case Law, retrieved 30 September 2026: https://caselaw.nationalarchives.gov.uk/ewhc/ch/2018/1034
• Bank of Scotland plc, Annual Report and Accounts 2018, business review and the transfers of operations note, retrieved 30 September 2026: https://www.lloydsbankinggroup.com/assets/pdfs/investors/financial-performance/bank-of-scotland-plc/2018/2018-bos-annual-report.pdf
• Lloyds Bank Corporate Markets plc, Annual Report and Accounts 2018, strategic report, retrieved 30 September 2026: https://www.lloydsbankinggroup.com/assets/pdfs/investors/financial-performance/lloyds-bank-corporate-markets-plc/2018/2018-lbcm-annual-report-v2.pdf
• Bank of Scotland plc, Annual Report and Accounts 2010, note 24 (merger of Bank of Scotland (Ireland) Limited, 31 December 2010), retrieved 30 September 2026: https://www.lloydsbankinggroup.com/assets/pdfs/investors/financial-performance/bank-of-scotland-plc/archive/2010/2010-bos-ra.pdf
• HBOS Group Reorganisation Act 2006 (2006 c. i), long title and preamble (transfers of the undertakings of Capital Bank plc, Halifax plc and HBOS Treasury Services plc), retrieved 30 September 2026: https://www.legislation.gov.uk/ukla/2006/1/contents/enacted
• Lloyds Banking Group, published description of its ring-fencing structure, retrieved 30 September 2026: https://www.lloydsbankinggroup.com/who-we-are/group-overview/ring-fencing.html
• Bank of England, list of banks incorporated in the UK authorised to accept deposits, data as at September 2026, retrieved 30 September 2026: https://www.bankofengland.co.uk/-/media/boe/files/prudential-regulation/authorisations/which-firms-does-the-pra-regulate/2026/banks-list-2609.csv
• Companies House, PSC registers used to test the tree’s attributions, retrieved 30 September 2026: https://find-and-update.company-information.service.gov.uk/company/SC073998/persons-with-significant-control , https://find-and-update.company-information.service.gov.uk/company/SC102957/persons-with-significant-control and https://find-and-update.company-information.service.gov.uk/company/SC121126/persons-with-significant-control
• Companies House, company overviews for SC327000, SC218813, 00002065 and SC095000 including previous-company-names tables, retrieved 30 September 2026: https://find-and-update.company-information.service.gov.uk/company/SC327000