# Banking Act 1987 (repealed), Paragraph 5

Extent: E+W+S+N.I.

(1) Where the Bank has given an institution a notice under section 7(3) or (4) of the former Act and the proceedings pursuant to that notice under the provisions of Schedule 4 to that Act have not been concluded at the coming into force of section 3 of this Act the repeal of that Act shall not affect the operation of those provisions in relation to that notice.
(2) Paragraph 2 above does not apply to an institution which is a recognised bank or licensed institution at the coming into force of section 3 of this Act if its recognition or licence is subsequently revoked by virtue of this paragraph.

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Source: https://www.legislation.gov.uk/ukpga/1987/22/schedule/5/paragraph/5 (the official version)
Page: https://openlegislation.uk/banking-act-1987-repealed/schedule-5/paragraph-5
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.