# Finance Act 1981, Paragraph 6


Where a person was carrying on a banking business at any time in the last quarter of 1980 but was not carrying on such a business on 10th March 1981, then, if his business was, after the first of the material times and before that date, transferred to another person who was carrying on such a business on that date, the principal section and this Schedule shall have effect as if any chargeable deposits held by the first-mentioned person at any material time had then been held by the other person.

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Source: https://www.legislation.gov.uk/ukpga/1981/35/schedule/17/paragraph/6 (the official version)
Page: https://openlegislation.uk/finance-act-1981/schedule-17/paragraph-6
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.