OpenLegislation

The Deposit Protection Board (Increase of Borrowing Limit) (No. 2) Order 1990

S.I. 1990/2064 · Made 18 October 1990

Original text. legislation.gov.uk does not revise statutory instruments, so later amendments are not shown here. Changes made to it are listed under each provision when known.

Banks and Banking

Made 18th October 1990

Laid before Parliament 19th October 1990

Coming into force 16th November 1990

The Treasury, in exercise of the powers conferred upon them by section 64 of the Banking Act 1987f1 and of all other powers enabling them in that behalf, and after consultation with the Deposit Protection Board, hereby order as follows:

Annotations to the whole text

Footnotes

f1

1987 c. 22.

Contents

  1. 1Citation and commencement
  2. 2Increase of borrowing limit
  3. 3Revocation of earlier instrument
  4. Signature
  5. Explanatory note

1Citation and commencement

This Order may be cited as the Deposit Protection Board (Increase of Borrowing Limit) (No. 2) Order 1990 and shall come into force on 16th November 1990.

2Increase of borrowing limit

The sum of £50 million is hereby prescribed for the purposes of section 64(1) of the Banking Act 1987 (borrowing powers of the Deposit Protection Board).

3Revocation of earlier instrument

The Deposit Protection Board (Increase of Borrowing Limit) Order 1990f1 is hereby revoked.

Signature

Gregory Knight

Irvine Patnick

Two of the Lords Commissioners of Her Majesty’s Treasury

18th October 1990

Explanatory note

(This note is not part of the Order)

This Order prescribes a limit of £50 million for the borrowing power of the Deposit Protection Board in place of the limit of £10 million stipulated in section 64(1) of the Banking Act 1987. It also revokes an earlier Order which was defective.