Article 17 Interpretation of “deposit-taker”

The Insolvency Rules (Northern Ireland) 1991 are amended as follows.

In Rule 0.2 of those Rules (interpretation), insert the following in the appropriate places—

• ““authorised deposit-taker” means a person with permission under Part 4 of the Financial Services and Markets Act 2000 to accept deposits, and this definition must be read with—

  1. (a)

     section 22 of the Financial Services and Markets Act 2000,

  2. (b)

     any relevant order under that section, and

  3. (c)

     Schedule 2 to that Act;”; and

• ““former authorised deposit-taker” means a person who—

  1. (a)

     is not an authorised deposit-taker,

  2. (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

  3. (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,

  and in this definition references to a “deposit” must be read with section 22 of the Financial Services and Markets Act 2000, any relevant order made under that section, and Schedule 2 to that Act;”.