Rule 204 “Authorised deposit-taker and former authorised deposit-taker”I1

England and Wales

(1)

“Authorised deposit-taker” means a person with permission under Part 4A^f1 of the Financial Services and Markets Act 2000 to accept deposits.

(2)

“Former authorised deposit-taker” means a person who—

(a)

is not an authorised deposit-taker,

(b)

was formerly an authorised institution under the Banking Act 1987^f2, or a recognised bank or a licensed institution under the Banking Act 1979^f3, and

(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.

(3)

Paragraphs (1) and (2) of this Rule must be read with—

(a)

section 22^f4 of the Financial Services and Markets Act 2000;

(b)

any relevant order under that section; and

(c)

Schedule 2 to that Act.

Annotations

Commencement

I1: Rule 204 in force at 31.1.2014, see rule 1

Footnotes

f1: Part 4A of the Financial Services and Markets Act 2000 was substituted for Part 4 of that Act by section 11(2) of the Financial Services Act 2012 c. 21.
f2: 1987 c. 22; repealed by S.I. 201/3649, article 3(1)(d).
f3: 1979 c. 37; repealed by the Banking Act 1987, section 108, Schedule 7, Part 1.
f4: Section 22 was amended by section 7 of the Financial Services Act 2012 c.