Paragraph 3

Changes not yet applied. Later legislation changes this provision in ways not yet written into the text below:

Sch. Pt I. paras 2(a)(c). 3(1)(b)(c) amended by Building Societies (Liquid Asset) 1992 reg.2(a)(b)
Sch, Pt I. para 9 added by Building Societies (Liquid Asset) 1992 reg.2(c)
Sch, Pt II amended by Building Societies (Liquid Asset) 1992 reg.3
Sch. Pt III (defn. of clearing agent) added by Building Societies (Liquid Asset) 1992 reg.4(1)
Sch, Pt III (defn of depository) added by Building Societies (Liquid Asset) 1992 reg.4(2)
Sch. Pt III (defn of EFTA State) added by Building Societies (Liquid Asset) 1992 reg.4(2)
Sch. Pt III (defn of mortgage backed securities) amended by Building Societies (Liquid Asset) 1992 reg.4(3)
Sch, Pt III (defn of rights to any securities) added by Building Societies (Liquid Asset) 1992 reg.4(4)
Sch., Pt.I, para.8 substituted by Building Societies (Liquid Asset) 1995 reg.3(a)
Sch., Pt.I, para.10 added by Building Societies (Liquid Asset) 1995 reg.3(b)
Sch., Pt.III (defn. of stock iending right) added by Building Societies (Liquid Asset) 1995 reg.3(c)
Sch., Pt.III (defn. of mortgage backed securities) para.(ii) substituted by Building Societies (Liquid Asset) 1995 reg.2(b)
Sch. Pt. 3 words substituted by Bank of England Act 1998 (Consequential Amendments of Subordinate Legislation) 1998 Sch. 1 para. 12(a)
Sch. Pt. 3 words substituted by Bank of England Act 1998 (Consequential Amendments of Subordinate Legislation) 1998 Sch. 1 para. 12(b)

Securities—

(1)

(a)

issued or guaranteed by the government of a state mentioned in paragraph 2(a),

(b)

issued, guaranteed or, in the case of bills of exchange, accepted by credit institutions authorised by the competent authorities of any member State of the European Community,

(c)

issued by international organisations the capital of which is subscribed in whole or part by any member State of the European Community,

(d)

issued by any relevant authority, or

(2)

in the form of commercial paper issued or guaranteed by

(a)

companies of the types to which Directive 78/660/EEC^f1 as amended by the Acts of Accession of Greece^f2 and of Spain and Portugal^f3 applies, or

(b)

by public companies incorporated in Canada, Japan, Sweden, Switzerland and the United States of America,

provided that any guarantee is unconditional in respect of the payment of both principal of and interest on these securities.

Annotations

Footnotes

f1: O.J. L. 222 of 14.8.78.
f2: O.J. L. 291 (Article 21, Annex 1, Part II(c), point 4) of 19.11.79.
f3: O.J. L. 302 (Article 26, Annex I, Part II, Point 4) of 15.11.85.