Personal account sharing on divorce

‘(1) Any sum may be transferred from one personal account into another personal account when—

(a) a divorce or dissolution of a civil partnership leads to a court order or agreement by mutual consent splitting the assets of the parties concerned;

(b) the court order or agreement by mutual consent instructs that a proportion of the value of the personal account of the transferor should be made the property of the transferee; and

(c) both the transferor and the transferee hold a personal account.

(2) In this section “the transferor” and “the transferee” shall be defined as in section 83 of this Act.’.—[Andrew Selous.]