# The Financial Services and Markets Act 2000 (Consequential Amendments and Repeals) Order 2001, Article 145: Borrowing power of Compensation Board

Extent: E+W+S+N.I.

(1) Section 78 of the Pensions Act 1995 (the Compensation Board) is amended as follows.
(2) In subsection (5), for the words from “an” to “1987” substitute “a deposit-taker”.
(3) After that subsection, insert—
“(5A) “Deposit taker” means—
(a) a person who has permission under Part 4 of the Financial Services and Markets Act 2000 to accept deposits; or
(b) an EEA firm of the kind mentioned in paragraph 5(b) of Schedule 3 to that Act which has permission under paragraph 15 of that Schedule (as a result of qualifying for authorisation under paragraph 12 of that Schedule) to accept deposits.
(5B) Sub-paragraph (5A) 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 2 to that Act.”.

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Source: https://www.legislation.gov.uk/uksi/2001/3649/article/145 (the official version)
Page: https://openlegislation.uk/financial-services-and-markets-act-2000-consequential-amendments-and-repeals-order-2001/article-145
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.