Article 49 Meaning of “protected deposit”

Section 48C (meaning of “protected deposit”)^f1 is amended as follows.

For subsections (1) to (3) substitute—

“(1)

A deposit is “protected” so far as it is covered by a deposit guarantee scheme under Directive 94/19/EC of the European Parliament and of the Council of 30th May 1994 on deposit guarantee schemes^f2 or Directive 2014/49/EU of the European Parliament and of the Council of 16th April 2014 on deposit guarantee schemes^f3.”.

In subsection (4) for “subsections (1) and (2)” substitute “subsection (1)”.