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The Banking Act 1987 (Exempt Transactions) (Amendment) Regulations 2000

S.I. 2000/635 · Made 7 March 2000

Original text. legislation.gov.uk does not revise statutory instruments, so later amendments are not shown here. Changes made to it are listed under each provision when known.

BANKS AND BANKING

Made 7th March 2000

Laid before Parliament 8th March 2000

Coming into force 1st April 2000

The Treasury, in exercise of the powers conferred on them by section 4(4) of the Banking Act 1987f1, hereby make the following Regulations:

Annotations to the whole text

Footnotes

f1

1987 c. 22.

Contents

  1. 1Citation and commencement
  2. 2Revocation
  3. Signature
  4. Explanatory note

1Citation and commencement

These Regulations may be cited as the Banking Act 1987 (Exempt Transactions) (Amendment) Regulations 2000 and shall come into force on 1st April 2000.

2Revocation

Regulation 7 of, and Schedule 1 to, the Banking Act 1987 (Exempt Transactions) Regulations 1997f1 are hereby revoked.

Signature

Greg Pope

Bob Ainsworth

Two of the Lords Commissioners of Her Majesty’s Treasury

7th March 2000

Explanatory note

(This note is not part of the Regulations)

These Regulations revoke regulation 7 of, and Schedule 1 to, the Banking Act 1987 (Exempt Transactions) Regulations 1997. The effect is that the acceptance of deposits by certain retail and other co-operative societies is no longer exempt from the prohibition on the acceptance of deposits in section 3 of the Banking Act 1987 by virtue of the society’s participation in the Co-operative Deposit Protection Scheme.