Section 448 Recognised savings institutions.C1

England and Wales

(1)

The savings institutions recognised for the purposes of section 446 (qualifying conditions as to savings) are—

F1an authorised deposit taker

F2. . .

and savings institutions recognised for the purposes of the corresponding provisions in force in Scotland or Northern Ireland.

(2)

The Secretary of State may by order made with the consent of the Treasury—

(a)

add to the list in subsection (1), or

(b)

direct that a named body shall no longer be a recognised savings institution;

but before making an order under paragraph (b) he shall give an opportunity for representations to be made on behalf of the body concerned.

(3)

An order shall be made by statutory instrument.

Annotations

F1: Words in s. 448(1) inserted (1.12.2001) by S.I. 2001/3649, arts. 1, 299(6)(b)
F2: Words in s. 448(1) repealed (1.12.2001) by S.I. 2001/3649, arts. 1, 299(6)(a)
F3: Word in s. 448(1) inserted (26.3.2001) by S.I. 2001/1149, art. 3(1), Sch. 1 para. 63
F4: Words in s. 448(1) repealed (26.3.2001) by S.I. 2001/1149, art. 3(2), Sch. 2 (with art. 4(11))
F5: Entry added by S.I. 1986/1490, art. 2

C1: Ss. 445–450: power to amend or repeal conferred by Local Government and Housing Act 1989 (c. 42, SIF 61), s. 171(1)(a)(2)