{
  "url": "https://openlegislation.uk/financial-services-and-markets-act-2000-consequential-amendments-and-repeals-order-2001/article-485",
  "json_url": "https://openlegislation.uk/financial-services-and-markets-act-2000-consequential-amendments-and-repeals-order-2001/article-485.json",
  "legislation": "uksi/2001/3649",
  "legislation_title": "The Financial Services and Markets Act 2000 (Consequential Amendments and Repeals) Order 2001",
  "legislation_url": "https://openlegislation.uk/financial-services-and-markets-act-2000-consequential-amendments-and-repeals-order-2001",
  "path": "article/485",
  "kind": "article",
  "number": "485",
  "heading": "Interest on unpaid levies",
  "text": "The Local Government Residuary Body (England) Order 1995 is amended as follows—\n(a) for paragraph (3)(a) of article 24 (interest on unpaid levies), substitute—\n“(a) the reference banks are the seven largest persons for the time being who—\n(i) have permission under Part 4 of the Financial Services and Markets Act 2000 to accept deposits,\n(ii) are incorporated in the United Kingdom and carrying on there a regulated activity of accepting deposits, and\n(iii) quote a base rate in sterling.”;\n(b) in paragraph (3)(b) of that regulation, for “an institution” substitute “a person” and for “its” (in both places) substitute “his”;\n(c) in paragraph (4) of that article, the definition of “deposit-taking business” is revoked;\n(d) in the second sub-paragraph of paragraph (4) for “an institution” substitute “a person” and for “that institution” substitute “that person”; and\n(e) after paragraph (4) of that article insert—\n“(5) Paragraph (3)(a) must be read with—\n(a) section 22 of the Financial Services and Markets Act 2000;\n(b) any relevant order under that section; and\n(c) Schedule 2 to that Act.”.",
  "extent": "E+W+S+N.I.",
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "I",
      "label": "I1",
      "text": "Art. 485 in force at 1.12.2001, see art. 1"
    },
    {
      "type": "footnote",
      "label": "f1",
      "text": "Article 24(3) was amended by S.I. 1998/1129."
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/uksi/2001/3649/article/485",
    "retrieved_at": "2026-10-29T07:23:30.014012+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}