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This Deed is made the day of 19 BETWEEN CO-OPERATIVE UNION LIMITED of Holyoake House Hanover Street Manchester (hereinafter called “the Union”) of the first part CO-OPERATIVE BANK LIM ITED of New Century House Corporation Street Manchester (hereinafter called “the Bank”) of the second part and LIMITED of (hereinafter called “the Society”) of the third part
WHEREAS:
A. This Deed is supplemental to a Deed dated the 29th day of February 1980 and made between the Union and the Bank establishing a Scheme (hereinafter called “the Scheme”) which is called the Co-operative Deposit Protection Scheme.
B. The purpose of the Scheme is to provide certain protection to Deposits (as defined in the said Deed) with Participating Societies.
C. The Society is an Industrial and Provident Society and is a member of the Union.
D. The Society has by resolution of its governing body elected to participate in the Scheme and has by such resolution undertaken to adopt and agree to the Scheme.
E. The Society has paid a joining contribution in accordance with Clause 5(2) of the said Deed.
F. The Union has approved the admission of the Society to the Scheme as a participating Society.
NOW THIS DEED WITNESSETH that the Society hereby adopts and agrees to the provisions of the Scheme to the intent that it may become a Participating Society as defined in the Scheme and be bound thereby and undertakes to procure that the Scheme’s provisions are incorporated in documents issued by the Society securing Deposits and bind the holders of those Deposits.
IN WITNESS whereof the parties have executed this Deed
THE COMMON SEAL OF CO-OPERATIVE UNION LIMITED was hereunto affixed in the presence of:
Chairman
General Secretary
THE COMMON SEAL OF CO-OPERATIVE UNION LIMITED was hereunto affixed in the presence of:
Director
Secretary
THE COMMON SEAL OF SOCIETY LIMITED was hereunto affixed in the presence of:
Director
Secretary
Schedule substituted by the Banking Act 1987 (Exempt Transactions) (Amendment) Regulations 1990 SI 1990/20, reg 3(e), Sch 1 as from 1st February 1990.
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