Article 2 Amendment of meaning of “deposit”

For the purposes of sections 60, 61 and 62 of the Banking Act 1987 the definition of deposit in section 5 of that Act shall be treated as excluding any sum to which a person becomes entitled (otherwise than by operation of law), or comes to be treated as entitled for the purposes of sections 58 and 60 of that Act, after a petition is presented for the winding up of the institution, or, in the case of an institution in respect of which such a petition has been presented before the date on which this Order comes into force, 30th July 1991.

Paragraph (1) above does not apply in respect of a payment falling to be made under section 58(2) of the Banking Act 1987.