# The Banking Act 1987 (Exempt Transactions) Regulations 1997, Regulation 10: Certain public undertakings


(1) Subject to paragraph (2) below, the acceptance by a body listed in Schedule 2 to these Regulations of a deposit made by another such body is an exempt transaction.
(2) Paragraph (1) above shall apply to a successor only so long as each of its issued shares is held by, or by a nominee of, the Treasury or the Secretary of State.

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Source: https://www.legislation.gov.uk/uksi/1997/817/regulation/10 (the official version)
Page: https://openlegislation.uk/banking-act-1987-exempt-transactions-regulations-1997/regulation-10
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.