{
  "url": "https://openlegislation.uk/banking-act-1987-exempt-transactions-regulations-1997/schedule-1/paragraph-14",
  "json_url": "https://openlegislation.uk/banking-act-1987-exempt-transactions-regulations-1997/schedule-1/paragraph-14.json",
  "legislation": "uksi/1997/817",
  "legislation_title": "The Banking Act 1987 (Exempt Transactions) Regulations 1997",
  "legislation_url": "https://openlegislation.uk/banking-act-1987-exempt-transactions-regulations-1997",
  "path": "schedule/1/paragraph/14",
  "kind": "paragraph",
  "number": "14",
  "heading": "NOW THIS DEED WITNESSETH AND IT IS HEREBY DECLARED as follows:",
  "text": "(1) The Bank may act as bankers to this Scheme and to the Fund and may make advances or loans to the Fund upon the usual terms as to interest and charges in the ordinary course of the Bank’s business and share stockbroker’s commission and generally act as a banker may in relation to his customer and without accounting for any profit so made, and without prejudice to the generality of the foregoing the Bank shall be entitled to charge and recover from the Fund all proper charges for banking, administration and management (including investment management) provided to the Fund or in respect of this Scheme.\n(2) The Union shall be entitled to charge and recover from the Fund all proper charges for administration and management provided to the Fund or in respect of this Scheme.\n(3) The Union and the Bank shall be entitled to be fully indemnified out of the Fund and in the case of any shortfall by Participating Societies on a joint and several basis in respect of all costs claims losses liabilities and demands whatsoever which the Bank and the Union or either of them may incur or suffer arising out of or in connection with the administration and management of the Fund or this Scheme.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [],
  "outstanding_effects": [
    {
      "type": "revoked",
      "affecting": "uksi/2000/635",
      "affecting_title": "The Banking Act 1987 (Exempt Transactions) (Amendment) Regulations 2000"
    }
  ],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/uksi/1997/817/schedule/1/paragraph/14",
    "retrieved_at": "2026-10-29T12:20:50.611143+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}