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The Deposit Protection Board (Increase of Borrowing Limit) Order 1991

S.I. 1991/1684 · Made 24 July 1991

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 24th July 1991

Laid before Parliament 25th July 1991

Coming into force 1st August 1991

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) Order 1991 and shall come into force on 1st August 1991.

2Increase of borrowing limit

The sum of £125 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) (No. 2) Order 1990f1is hereby revoked.

Signature

Gregory Knight

Sydney Chapman

Two of the Lords Commissioners of Her Majesty’s Treasury.

24th July 1991

Explanatory note

(This note is not part of the Order)

This Order prescribes a limit of £125 million for the purposes of the borrowing power of the Deposit Protection Board contained in section 64(1) of the Banking Act 1987. The limit replaces the limit of £50 million prescribed by the Deposit Protection Board (Increase of Borrowing Limit) (No. 2) Order 1990, which is revoked.