Article 186 “Authorised deposit-taker and former authorised deposit-taker”I1

England and Wales

(1)

“Authorised deposit-taker” means a person with permission under Part 4 of the Financial Services and Markets Act to accept deposits.

(2)

“Former authorised deposit-taker” means a person who—

(a)

is not an authorised deposit-taker,

(b)

was formerly an authorised institution under the Banking Act 1987^f1, or a recognised bank or a licensed institution under the Banking Act 1979^f2, and

(c)

continues to have liability in respect of any deposit for which it had a liability at a time when it was an authorised institution, recognised bank or licensed institution.

(3)

Paragraphs (1) and (2) must be read with—

(a)

section 22 of the Financial Services and Markets Act 2000;

(b)

any relevant order under that section; and

(c)

Schedule 22 to that Act.

Annotations

Commencement

I1: Rule 186 in force at 1.10.2005, see rule 1

Footnotes

f1: 1987 c. 22; repealed by S.I. 2001/3649, article 3(1)(d).
f2: 1979 c. 37; repealed by the Banking Act 1987, section 108, Schedule 7, Part 1.