Made | 23rd August 2001 | ||
Laid before Parliament | 24th August 2001 | ||
Coming into force | in accordance with article 1 |
(2) In this Order -
(b) in relation to an article 9 default for which the DPS or the BSIPS is the relevant former scheme, means the relevant defaulter ceasing to be insolvent in the circumstances referred to in section 59(3) of the Banking Act[21] or section 25A(3) of the Building Societies Act;
(2) A reference in this Order to a former scheme, or to a provision in a former scheme -
before commencement; and
(b) an application for compensation made in accordance with paragraph (2).
(2) A person may, after commencement, make an application to the scheme manager under an investment business compensation scheme (as modified by rules made by the Authority under article 4(3)), but only if a relevant default occurred before commencement.
(3) An application may be made under paragraph (2) even if the investment business compensation scheme in question has otherwise ceased to exist.
(4) Except as provided for in paragraph (2), no application may be made under an investment business compensation scheme after commencement.
(5) A post-commencement application means an application for compensation which may be made under paragraph (6).
(6) Notwithstanding anything in Part XV of the Act, a person may after commencement make an application to the scheme manager for compensation under the new scheme as modified by rules made by the Authority under article 6(2), if -
(b) no relevant default occurred before commencement; and
(c) the person making the application has not also made a pending application arising out of the same set of facts.
(7) For the purposes of paragraph (6) -
Pending applications
4.
- (1) A pending application is to be assessed and determined after commencement by the scheme manager in accordance with the relevant former scheme as modified by rules made by the Authority under paragraph (3), even if that former scheme has otherwise ceased to exist.
(2) Where the scheme manager exercises functions under paragraph (1) in relation to a pending application of the kind referred to in article 3(1)(a), the acts and omissions of the former manager before commencement in connection with the application are, for the purpose of the assessment and determination of the application by the scheme manager, deemed to be the acts and omissions of the scheme manager.
(3) The Authority must by rules make such modifications to investment business compensation schemes as it considers are required to enable pending applications to be made, received, assessed and determined by the scheme manager in accordance with this Order.
(4) The Authority may make rules enabling the scheme manager, in respect of pending application made under the PIA indemnity scheme or the ABI scheme, to require, as a condition of making any payment of compensation, the assignment by the applicant for compensation to the scheme manager of such rights of the applicant in connection with his claim against the relevant defaulter as the scheme manager may determine.
The Investor Compensation Scheme Regulations 1998
5.
Notwithstanding the revocation of the Investor Compensation Scheme Regulations 1998[22] by Part II of Schedule 2, regulation 2(2) of those Regulations continues to have effect in relation to the payment by the scheme manager of compensation in relation to a pending application made under the Section 43 scheme.
Post-commencement applications
6.
- (1) A post-commencement application is to be assessed and determined by the scheme manager under the new scheme as modified by rules made by the Authority under paragraph (2).
(2) The Authority must make rules modifying the new scheme to enable post-commencement applications to be made, received, assessed and determined by the scheme manager in accordance with this Order.
Power to require information - post-commencement applications
7.
For the purposes of assessing and determining a post-commencement application -
Insolvency of relevant defaulter - post-commencement applications
8.
For the purposes of assessing and determining a post-commencement application where the relevant defaulter is insolvent, sections 220, 221 and 224 of the Act apply as if -
(2) Where the scheme manager exercises functions under paragraph (1) in relation to an article 9 default, the acts and omissions of the former manager before commencement in connection with that default are, for the purposes of the exercise by the scheme manager of those functions, deemed to be the acts and omissions of the scheme manager.
(3) The Authority must by rules make such modifications to the FSPS as it considers are required to enable the scheme manager to comply with that scheme as provided in paragraph (1).
(4) The Authority must secure by rules made under paragraph (3) that the functions conferred on the Friendly Societies Protection Scheme Board by the FSPS are exercisable by the scheme manager after commencement.
(5) No provision of the FSPS has effect after commencement to the extent that it imposes a levy or equivalent kind of charge on any person.
(6) Any term in any provision of a former scheme which continues to have effect by virtue of paragraph (1), and which was defined by any provision of the Policyholders Protection Act, the Banking Act or the Building Societies Act, continues to have the meaning given by that Act, notwithstanding any repeal of any provision of that Act.
(7) Except as provided for in this article, the former schemes do not apply to any default referred to in (a), (b), (c), (d), (e), (h) or (i) of the definition of "default" that occurs after commencement.
Applications in respect of compulsory liability insurance
10.
- (1) A person may make an application for compensation to the scheme manager under the new scheme (as modified by rules made by the Authority under paragraph (2)) if -
(2) The Authority must make rules modifying the new scheme to enable the scheme manager to receive, assess, determine and make payments in respect of applications for compensation made under paragraph (1).
(3) Article 9(1)(a) does not apply in relation to applications for compensation made under paragraph (1).
The Credit Institutions (Protection of Depositors) Regulations 1995
11.
Where the DPS or the BSIPS continues to have effect after commencement in relation to an article 9 default by virtue of this Order, the Credit Institutions (Protection of Depositors) Regulations 1995[24] continue to have effect in relation to that default, notwithstanding the revocation of those Regulations by article 24 and Schedule 2, but subject to the modifications set out in Part 1 of Schedule 1.
Applications under the new scheme
12.
- (1) Notwithstanding anything in Part XV of the Act, a person ("the applicant") may after commencement make an application to the scheme manager for compensation under the new scheme as modified by rules made by the Authority under paragraph (3), if -
(b) the circumstances giving rise to the applicant's claim against the relevant body occurred before commencement, and were of a kind capable of giving rise to a duty to make a payment to the applicant in accordance with the PPS, the DPS, the BSIPS or the FSPS;
(c) none of the former schemes referred to in sub-paragraph (b) has effect, by virtue of article 9, in relation to the circumstances giving rise to the applicant's claim;
(d) the applicant is not entitled to make an application for compensation in accordance with article 10; and
(e) the applicant's claim would not, apart from this article and any rules made under it, be capable of giving rise to an entitlement to compensation under the new scheme.
(2) An application is not to be regarded as falling outside paragraph (1) by reference to sub-paragraph (b) merely because no article 9 default occurred before commencement.
(3) The Authority must make rules modifying the new scheme to enable the scheme manager to receive, assess and determine applications for compensation made in accordance with this article.
(4) For the purposes of assessing and determining applications for compensation made pursuant to paragraph (1) -
(5) In this article, "relevant body" means a participating deposit-taker, participating institution, authorised insurer or member society against whom an applicant has a claim of a kind falling within paragraph (1)(a) and (b).
Repayment of recovered money
13.
- (1) This article applies where the scheme manager receives money under section 62 of the Banking Act[25] or section 28 of the Building Societies Act[26] ("recovered money").
(2) Where this article applies, the scheme manager must prepare and carry out a scheme for the repayment of recovered money to such persons, and in such amounts, as the scheme manager considers fair and equitable in the circumstances, having regard to the payments made by such persons by way of contributions or levies payable to the scheme manager, the Deposit Protection Board or the Building Societies Investor Protection Board.
Use of certain funds
14.
- (1) The scheme manager must, so far as practicable, ensure that -
(2) In this article -
Continuity of measures etc
16.
- (1) Measures taken, arrangements made, terms and conditions imposed, indemnities given and all other things done before commencement by a former manager in the exercise of functions, powers or duties conferred on the former manager by a former scheme continue to have effect.
(2) The scheme manager has all the functions, powers and duties of a former manager in relation to the measures and other things referred to in paragraph (1).
Levies
17.
- (1) The reference to the expenses of the scheme manager in section 213(3)(b) of the Act is to be taken as including a reference to expenses (including administrative expenses) incurred by the scheme manager in -
(2) No provision of an investment business compensation scheme has effect after commencement to the extent that it imposes a levy or equivalent kind of charge on any person.
Information
18.
- (1) Any information held by a former manager in connection with the operation of a former scheme may be disclosed by that person to the scheme manager.
(2) Any such disclosure is not to be treated as a contravention of any restriction on disclosure of the information (imposed by statute or otherwise) to which the former manager is subject; but thereafter the scheme manager is to be treated as subject to any such restriction as would have applied to the former manager (subject to any exceptions which would have so applied).
Annual report, statutory immunity and expenses
19.
References to the scheme manger's functions in each of the following provisions of the Act is to be taken to include functions exercisable by, or deemed to have been exercised by, the scheme manager by virtue of this Order -
Final reports and statements of account of existing Boards
20.
- (1) As soon as practicable after commencement, and in any case no later than 1st March 2002, a Board must prepare and publish -
(2) The statements of accounts referred to in paragraph (1) must be audited by auditors appointed by the Board.
(3) A person must not be appointed as auditor for the purposes of paragraph (2) unless he is eligible for appointment as a company auditor under section 25 of the Companies Act 1989[28].
(4) In this article, "relevant period" means -
(5) At commencement, a board must retain such property, rights and liabilities as it considers necessary to perform its functions under this article.
Transfer of property, rights and liabilities
21.
At commencement any property, rights and liabilities of a Board (other than residual assets and liabilities) vest in the scheme manager.
Residual assets and liabilities
22.
- (1) On the day on which section 416(3)(b) of the Act comes into force, any residual assets and liabilities of the Policyholders Protection Board vest in the scheme manager.
(2) On the day on which section 416(3)(c) of the Act comes into force any residual assets and liabilities of the Deposit Protection Board vest in the scheme manager.
Record keeping and reporting requirements relating to pre-commencement acts
23.
The Authority may make rules applying to authorised persons with respect to the keeping of records and the making of reports in relation to transitional applications and article 9 defaults in respect of which payments are made, after commencement.
Revocations
24.
Subject to the savings made by articles 9 and 11 and Part 2 of Schedule 1, the provisions of secondary legislation set out in Schedule 2 are revoked.
John Heppell
Tony McNulty
Two of the Lords Commissioners of Her Majesty's Treasury
23rd August 2001
Provision | Modifications |
Sections 1, 3, 4, 5[29], 6, 7[30], 8[31], 9[32], 10[33], 11[34], 12, 13[35], 14, 15[36], 16[37], 17, 23(1), 27[38], 31[39]. |
In each place where it appears, for "Board" substitute "scheme manager". Where the Board are referred to in the plural, substitute the singular as it refers to the scheme manager. |
Section 3(2)[40] | For the second "is" substitute "was, at the time the functions under sections 6 to 11 became exercisable,". |
Section 9 | For "any other authorised insurance company which" substitute "an authorised person (within the meaning of the Financial Services and Markets Act 2000) with permission under that Act to effect or carry out contracts of insurance as principal, and who". |
Section 11(5) | For "another authorised insurance company" in each place where those words appear, substitute "an authorised person (within the meaning of the Financial Services and Markets Act 2000) who has permission to effect and carry out contracts of insurance (within the meaning of the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001)". |
Section 13(3) | Omit from "together" to "such expenditure". |
Section 16(3) | For "another authorised insurance company", substitute "an authorised person (within the meaning of the Financial Services and Markets Act 2000) who has permission to effect and carry out contracts of insurance (within the meaning of the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001)". |
Section 32[41] |
In subsection (1), after the definition of "long term policy", insert - " "the scheme manager" has the same meaning as in Part XV of the Financial Services and Markets Act 2000;". Omit the definitions of "the Board", "general business expenditure", "general business levy", "long term business expenditure" and "long term business levy". |
Sections 1(1), (2)(b)[42], (3) to (5), 2, 18, 19, 20, 21, 23(2), 24, 25, 26[43], 29[44] and Schedules 1, 2 and 3 | Omit |
2.
A reference in any provision of the Policyholders Protection Act to any other provision of that Act is to be construed as reference to the latter provision as modified by this Order.
Part II of the Banking Act
Provision | Modifications |
Section 50(2)[45] |
Substitute - " (2) The scheme manager has the functions, conferred on it by this Part.". |
Section 52(6)[46] |
After the definition of "building society", insert " "commencement" means the beginning of the day on which section 19 of the Financial Servcies and Markets Act 2000 comes into force;". After the definition of "participating non-EEA institution", insert ""the scheme manager" has the same meaning as in Part XV of the Financial Services and Markets Act 2000;". |
Section 58 |
In subsection (1), for the words from "if at any time" to "becomes insolvent" substitute "in relation to an institution to which this subsection applies which was, before commencement, insolvent". In subsection (1)(a), omit "out of the Fund". In subsection (2), for "is" in each case it is used, substitute "was, at the time it became insolvent,". |
Sections 58(1) to (6), (8), (9)[47], 59[48], 60[49], 61[50], 62[51], 65(3) and (4)[52]. | For "Board" substitute "scheme manager". |
Section 58(2C) | Immediately before "a UK institution", insert "an institution which was, at the time it became insolvent,". |
Section 58 (2D) | Immediately before "a participating EEA institution", insert "an institution which was, at the time it became insolvent,". |
Section 58(3) | Immdiately before "a UK institution", insert "an institution which was, at the time it became insolvent,". |
Section 58(7) and section 60(5) | For "Board" substitute "scheme manager and the Authority". |
Section 59 |
In subsections (1) and (2) - for "becomes" substitute "became"; and for the words from "deposits made" to the end substitute "prior to commencement deposits made with the institution had become due and payable and had not yet been repaid". In subsection (4), immediately before "a UK institution" insert "an institution which was, at the time it became insolvent,". |
Section 59(4) | Immediately before "a UK institution", insert "an institution which was, at the time it became insolvent,". |
Section 60(2A) | Immediately before "UK institutions", insert "institutions which were, at the time they became insolvent,". |
Section 61(8) | Before "an authorised institution" insert "an institution which, immediately before commencement, was". |
Sections 50(1) and (3), 51[53], 52(1) to (4B)[54], 53[55], 54, 55, 56, 57[56], 62(8), 63, 64, 65(1), (2)[57] and 66 | Omit. |
Part IV of the Building Societies Act
Provision | Modifications |
Section 24[58] |
For subsection (1) substitute - "
(1) The scheme manager has the functions, powers and duties conferred on it by this Part.". In subsection (4), after the definition of "the 1995 Regulations", insert - " "the Authority" means the Financial Services Authority; "commencement" means the beginning of the day on which section 19 of the Financial Services and Markets Act 2000 comes into force;" In the definition of "participating institution", after "means" insert "an insolvent institution which was, at the time it became insolvent". At the end of subsection (4), insert - " "the scheme manager" has the same meaning as in Part XV of the Financial Services and Markets Act 2000. (4A) In the protective scheme provisions of this Part - "the expenses attributable to the insolvency"with reference to a participating institution insolvency means payments made to investors under section 27, together with any expenses (including administrative expenses attributable to that insolvency) incurred by the scheme manager in connection with the making of such payments or in connection with that insolvency; "insolvency payments to investors" means payments made to investors under section 27 and any expenses incurred in connection with the making of such payments, and "insolvency payment" has a corresponding meaning." |
Sections 25A[59] |
In subsection (1) and (2) - for "becomes" substitute "became"; after "only if" insert "prior to commencement"; "have become" substitute "had become"; and for "have not" substitute "had not". In subsection (4), so far as it relates to paragraph (b), for "Commission" substitute "Authority". |
Section 27[60] |
In subsection (1), for the words from "if at any time" to "become insolvent" substitute "in relation to a participating institution". In subsection (1)(a) omit "out of the Fund". In subsection (2A) - for "Commission" substitute "Authority"; for "becomes" substitute "became". In subsection (3), for "an authorised institution" substitute "an authorised person within the meaning of the Financial Services and Markets Act 2000 who has permission to accept deposits (within the meaning of the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001)". In subsections (3B) and (5C), before "a participating EEA institution", insert "a participating institution which was, when it became insolvent,". In subsection (4)(b), at the end insert "or under the Financial Services Compensation Scheme established under Part XV of the Financial Services and Markets Act 2000". In subsection (5), omit "which has become insolvent". In subsection (6), for "the Board" substitute "the scheme manager and the Authority". In subsections (10) and (11), omit "insolvent". |
Section 27A(1) | Omit "which has become insolvent". |
Section 28[61] | In subsection (1), omit paragraph (a) and, in paragraph (b), after "the insolvency" insert "of a participating institution". |
Section 29A[62] | In subsection (3), omit "insolvent". |
Sections 27(1) to (5C), (8) to (11), 27A, 28, 29A(3) to (5), Schedule 6 | For "Board" substitute "scheme manager". |
Schedule 6 | In paragraph 5, for "investment business (within the meaning of the Financial Services Act 1986)" substitute "activities which are regulated activities for the purposes of the Financial Services and Markets Act 2000". |
Sections 24(2), 25[63], 25A(4)(a), 26[64], 28(9), 29[65], 29A(1), (2), 30, 31[66] | Omit |
The Credit Institutions (Protection of Depositors) Regulations 1995
Provision | Modifications |
Regulation 2[67] |
After the definition of "the 1992 Regulations" insert - " "the Authority" means the Financial Servcies Authority; "article 9 default" has the same meaning as in the Financial Services and Markets Act 2000 (Transitional Provisions, Savings and Repeals) (Financial Services Compensation Scheme) Order 2001;". After the definition of "building society" insert - " "commencement" means the beginning of the day on which section 19 of the Financial Services and Markets Act 2000 comes into force;". After the definition of "non-EEA institution" insert - " "relevant Part" means "Part II of the 1987 Act or Part IV of the 1986 Act (as continued in effect by the Financial Services and Markets Act 2000 (Transitional Provisions, Repeals and Savings) (Financial Services Compensation Scheme) Order 2001)"; "the scheme manager" has the same meaning as in Part XV of the Financial Services and Markets Act 2000;". |
Regulation 7(2) |
For the words from the beginning to "the relevant Board", substitute - " Where an article 9 default has occurred in relation to a person who was, immediately before commencement, an EEA institution which was participating in a UK scheme, and that institution fails to produce any documents or provide any information to the scheme manager which it is required to produce or provide under section 65 of the 1987 Act or, as the case may be, section 29A of the 1986 Act, the scheme manager". In sub-paragraph (b), for "the Board" substitute "the scheme manager". |
Regulation 10(2) | For the words from "an EEA institution" to "the relevant Board" substitute "an article 9 default occurs in relation to a person who was, immediately before commencement, an EEA institution which was participating in a UK scheme, the scheme manager". |
Regulation 14(1) |
For the words from the beginning of the paragraph to "the relevant enactment" substitute "Where an article 9 default has occurred in relation to a person who was, immediately before commencement, a UK institution or building society which is participating in a host State scheme, section 62 of the 1987 Act or section 28 of the 1986 Act as the case may be,". For "relevant Board" substitute "scheme manager". |
Regulation 15(2) |
For the words from "a UK institution" to "the relevant Board" substitute "an article 9 default occurs in relation to a person who was, immediately before commencement, a UK institution or building society which is participating in a host State scheme, the scheme manager". |
Regulation 17 |
In paragraph (1), for the words from "a UK institution" to "relevant authority" substitute "an article 9 default has occurred in relation to a person who was, immediately before commencement, a UK institution or building society, it shall be the duty of the Authority". In paragraph (2), after "where" insert "a person who was, immediately before commencement," and for "relevant authority" substitute "the Authority". In paragraph (3), for "relevant enactment" substitute "relevant Part". |
Regulation 18 |
For the words from the beginning of the paragprah to "obtain information)" substitute "Where an article 9 default has occurred in relation to a person who was, immediately before commencement, a UK institution or building society which is participating in a host State scheme, the provisions of the relevant Part which enable the scheme manager to obtain information (sections 58(8), (9), 65(3), (4) of the 1987 Act or sections 29A(3) and (4) of the 1986 Act". For "relevant Board" substitute "scheme manager". For "relevant UK scheme" substitute "the deposit protection scheme or the investor protection scheme as appropriate". |
Regulations 1(1), (2), 3[68] to 6, 7(1), (3) to (5), 8, 9, 10(1), (3), 11, 12, 13, 14(2), 15(1), (3), 16, 17(4)[69], 18(2), 19 to 45 and 53 to 54 | Omit |
Provision | Saving |
Section 1(5) of, and paragraphs 1 to 13 of Schedule 1 to, the Policyholders Protection Act | Continues to have effect only until the Policyholders Protection Board ceases to exist. |
Sections 50(3) of, and paragraphs 1 to 4 of Schedule 4 to, the Banking Act | Continues to have effect only until the Deposit Protection Board ceases to exist. |
Section 24(2) of, and paragraphs 1 to 5A of Schedule 5 to the Building Societies Act | Continues to have effect only until the Building Societies Investor Protection Board ceases to exist. |
Regulation[70] 9 of the Credit Institutions (Protection of Depositors) Regulations 1995 | Continues to have effect in relation to an EEA institution which withdraws or is excluded from participation in a UK scheme prior to commencement. |
Title of statutory instrument | Extent of revocation |
The Credit Institutions (Protection of Depositors) Regulations 1995 (S.I. 1995/1442) | Regulations 3 to 45 and 53 to 54 |
The Investor Compensation Scheme Regulations 1998 (S.I. 1998/2169) | The entire Regulations |
[3] Amended by S.I. 1989/2405.back
[4] The Grey Paper sets out the conditions for listing and on-going supervision of institutions listed under section 43 of the Financial Services Act. It was published by the Authority on 26th September 1998.back
[5] Amended by the Friendly Societies Act 1992, Schedule 18 paragraph 3.back
[8] Amended by the Insolvency Act 1986 (c. 45) Schedule 14 and by S.I. 1989/2405 (N.I.19).back
[9] The Financial Services (Compensation of Investors) Rules 1988 were made on 21st July 1988 and came into force on 28th August 1988.back
[10] The Financial Services (Compensation of Investors) Rules 1990 were made on 21st June 1990 and came into force on 15th July 1990.back
[11] The Financial Services (Compensation of Investors) Rules 1994 were made by the Authority on 15th September 1994 and came into force on that day.back
[12] The Section 43 Compensation Scheme Rules were made by the Authority as part of the Grey Paper (see paragraph (e) of the definition of "former scheme") on 26th September 1998.back
[13] Inserted by S.I. 1995/1442 and amended by the Building Societies Act 1997 (c. 32) Schedule 7, paragraph 6.back
[14] The Rules of the Friendly Societies Protection Scheme are the rules referred to in the Memorandum and Articles of Association of the Association of Registered Friendly Societies Limited, which was incorporated on 14th September 1987.back
[15] The PIA Rule Book was published by the Personal Investment Authority in June 1998.back
[18] 1979 c. 37. Section 23 was repealed by the Banking Act 1987 (c. 22) Schedule 7.back
[21] Substituted by S.I. 1995/1442 and amended by the Bank of England Act 1998 (c. 11) Schedule 5 paragraph 14.back
[25] Amended by S.I. 1995/1442 and by S.I. 1989/2405 (N.I. 19).back
[26] Amended by S.I.1995/1442, (N.I. 19) and amended and repealed in part by the Building Societies Act 1997 section 33 and Schedule 9.back
[27] Repealed in part and amended by S.I. 1995/1442.back
[29] Repealed in part by the Insolvency Act 1985 (c. 65) Schedule 10 and amended by the Insolvency Act 1986 (c. 45) Schedule 14 and by the Insolvency (Northern Ireland) Order 1989 (S.I. 1989/2405) (N.I. 19) Schedule 9, paragraph 26.back
[30] Amended by the Road Traffic (Consequential Provisions) Act 1988 (c. 54) Schedule 3, paragraph 14 and by the Road Traffic (Northern Ireland Consequential Amendments) Order 1981 S.I. 1981/160.back
[31] Amended by the Insolvency Act 1981 Schedule 4.back
[32] Amended by the Road Traffic (Consequential Provisions) Act 1988 (c. 54) Schedule 3, paragraph 14 and by the Road Traffic (Northern Ireland Consequential Amendments) Order 1981 S.I. 1981/160.back
[33] Amended by the Insurance Companies Act 1981 Schedule 5.back
[34] Amended by S.I. 1997/2781.back
[35] Amended by S.I. 1997/2781.back
[36] Amended by the Companies Consolidation (Consequential Provisions) Act 1985 (c. 9) Schedule 2; the Insolvency Act 1986 (c. 45) Schedule 14; and the Insolvency (Northern Ireland) Order 1989 (S.I. 1989/2405) (N.I. 19) Schedule 9, paragraph 27.back
[37] Amended by the Policyholders Protection Act 1997 (c. 18) sections 3 to 6; the Insolvency Act 1986 (c. 45) Schedule 14; the Insolvency (Nothern Ireland) Order 1989 (S.I. 1989/2405) (N.I. 19) Schedule 9, paragraph 28; the Companies Consolidation (Consequential Provisions) Act 1985 (c. 9) Schedule 2; and the Companies (Consequential Provisions) (Northern Ireland) Order 1986 (S.I. 1986/1035).back
[38] Amended by the Companies Consolidation (Consequential Provisions) Act 1985 (c. 9) Schedule 2 and by the Statute Law (Repeals) Act 1993 (c. 50).back
[39] Amended by S.I. 1997/2781.back
[40] Amended and repealed in part by the Insurance Companies Act 1980 (c. 25) section 4, Schedule 3, paragraph 9 and Schedule 5 and amended by the Insurance Companies Act 1981 (c. 31) Schedule 4, paragraph 25 and by the Insurance Companies Act 1982 (c. 50) Schedule 5, paragraph 16. Modified by the Insurance Companies (Third Insurance Directives) Regulations 1994 (S.I. 1994/1696).back
[41] Repealed in part by the Insurance Companies Act 1980 (c. 25) Schedule 5 and the Insurance Companies Act 1981back
[42] Amended by S.I. 1997/2781.back
[43] Amended by S.I. 1997/2781.back
[44] Amended by the Companies Consolidation (Consequential Provisions) Act 1985 (c. 9) Schedule 2; the Statute Law (Repeals) Act 1993 (c. 50); the Insurance Companies Act 1982 (c. 50) Schedule 5, paragraph 16.back
[45] Amended by the Credit Institutions (Protection of Depositors) Regulations 1995 (SI. 1995/1442).back
[46] Subsections (6) and (7) of section 52 were inserted by the Credit Institutions (Protection of Depositors) Regulations 1995 (S.I. 1995/1442).back
[47] Amended by the Insovlency (Northern Ireland) Order 1989 (S.I. 1989/2405) (N.I. 19) Schedule 9, paragraph 50; the Credit Institutions (Protection of Depositors) Regulations 1995 (S.I. 1995/1442); and the Bank of England Act 1998 (c. 11) Schedule 5, paragraph 14.back
[48] Amended by the Credit Institutions (Protection of Depositors) Regulations 1995 (S.I. 1995/1442) and the Bank of England Act 1998 (c. 11) Schedule 5, paragraph 14.back
[49] Amended by the Credit Institutions (Protection of Depositors) Regulations 1995 (S.I. 1995/1442).back
[50] Amended by the Credit Institutions (Protection of Depositors) Regulations 1995 (S.I. 1995/1442).back
[51] Amended by the Credit Institutions (Protection of Depositors) Regulations 1995 (S.I. 1995/1442).back
[52] Amended by the Credit Institutions (Protection of Depositors) Regulations 1995 (S.I. 1995/1442).back
[53] Amended by the Credit Institutions (Protection of Depositors) Regulations 1995 (S.I. 1995/1442).back
[54] Amended by the Credit Institutions (Protection of Depositors) Regulations 1995 (S.I. 1995/1442) and the Bank of England Act 1998 (c. 11) Schedule 5, paragraph 14.back
[55] Amended by the Credit Institutions (Protection of Depositors) Regulations 1995 (S.I. 1995/1442).back
[56] Amended by the Credit Institutions (Protection of Depositors) Regulations 1995 (S.I. 1995/1442).back
[57] Amended by the Credit Institutions (Protection of Depositors) Regulations 1995 (S.I. 1995/1442) and the Bank of England Act 1998 (c. 11) Schedule 5, paragraph 14.back
[58] Amended by the Credit Institutions (Protection of Depositors) Regulations 1995 (S.I. 1995/1442); the Building Societies Act 1997 (c. 32) Schedule 7, paragraph 4; and S.I. 1999/2094.back
[59] Inserted by the Credit Institutions (Protection of Depositors) Regulations 1995 (S.I. 1995/1442) and amended by the Building Societies Act 1997 Schedule 7, paragraph 6.back
[60] Amended by the Credit Institutions (Protection of Depositors) Regulations 1995 (S.I. 1995/1442); the Building Societies Act 1997 Schedule 7, paragraph 7 and S.I. 2000/2952.back
[61] Amended by the Credit Institutions (Protection of Depositors) Regulations 1995 (S.I. 1995/1442); the Building Societies Act 1997 (c. 32) section 3, Schedule 7, paragraph 9, Schedule 9; and the Insolvency (Northern Ireland) Order 1989 (S.I. 1989/2405) (N.I. 19) Schedul 9, paragraph 43.back
[62] Inserted by the Credit Institutions (Protection of Depositors) Regulations 1995 (S.I. 1995/1442); and amended by the Building Societies Act 1997 (c. 32) Schedule 7, paragraph 10.back
[63] Amended by the Banking Act Schedule 6, paragraph 26, Schedule 7; Credit Institutions (Protection of Depositors) Regulations 1995 (S.I. 1995/1442); the Building Societies Act 1997 (c. 32) Schedule 7, paragraph 5; and S.I. 1999/2094 and modified by the Banking Coordination (Second Council Directive) Regulations 1992 (S.I. 1992/3218).back
[64] Amended and repealed in part by the Credit Institutions (Protection of Depositors) Regulations 1995 (S.I. 1995/1442).back
[65] Amended by the Credit Institutions (Protection of Depositors) Regulations 1995 (S.I. 1995/1442).back
[66] Amended by the Building Societies Act 1997 (c. 32) Schedule 7, paragraph 11 and amended by S.I. 1996/1669.back
[67] Amended by S.I. 1998/1129 and S.I. 1999/2094.back
[68] Amended by S.I. 1998/1129.back
[69] Amended by S.I. 1998/1129.back
[70] Amended by S.I. 1998/1129.back