Article 59 Power to apply Parts 2 to 7 to formerly authorised banks

Article 366 of the Insolvency (Northern Ireland) Order 1989 (power to apply Parts 2 to 7 to banks etc.)^f1 is amended as follows.

For the cross heading to that Article substitute “Power to apply Parts II to VII to formerly authorised banks etc.”.

The existing text is numbered paragraph (1).

In paragraph (1), after “any company” insert “(other than an authorised deposit taker)”.

After paragraph (1) insert—

“(2)

For the purposes of paragraph (1), “authorised deposit taker” has the meaning given in Article 21(1B).”.