http://www.legislation.gov.uk/uksi/2010/2580/rule/49/madeThe Building Society Special Administration (England and Wales) Rules 2010Building societiesBuilding control servicesBankingAppointments procedureenKing's Printer of Acts of Parliament2024-08-14BUILDING SOCIETIES, ENGLAND AND WALESINSOLVENCY, ENGLAND AND WALES These Rules set out the procedure for the building society special administration process under Part 3 of the Banking Act 2009 (c.1), as applied in relation to building societies by the Building Societies (Insolvency and Special Administration) Order 2009 (S.I. 2009/805). PART 3Process of Building Society Special AdministrationDisapplication of set-off for protected deposits 49 1 This rule applies if— a FSA Rules allow the FSCS to make gross payments of compensation in respect of protected deposits; and b all or part of a creditor’s claim against the building society is in respect of protected deposits. 2 In respect of protected deposits Rule 2.85 of the Insolvency Rules 1986 (as applied by Rule 60 below) shall apply and, for the purpose of determining the sums due from the building society to an eligible depositor under rule 2.85(3)— a where the total of the sums held by the building society for the eligible depositor in respect of protected deposits is no more than the prescribed limit then paragraph (3) applies; and b where the sums held exceed the prescribed limit, then paragraph (4) applies. 3 Where this paragraph applies, there shall be deemed to have been no mutual dealings, regardless of whether there are any sums due from the depositor to the building society, and the sum due to the eligible depositor from the building society in respect of the protected deposits will be the total of the sums held by the building society for that depositor in respect of those deposits. 4 Where this paragraph applies then— a any mutual dealings shall be treated as being mutual dealings only in relation to the amount by which the total of the sums due to the eligible depositor exceeds the prescribed limit, and b the sums due from the building society to the eligible depositor in respect of protected deposits will be— i the amount by which that total exceeds the prescribed limit, set off in accordance with rule 2.85(3); and ii the sums held by the bank for the eligible depositor in respect of protected deposits up to the prescribed limit. 5 Any arrangements with regard to set-off between the building society and the eligible depositor in existence before the date of the notice referred to in rule 2.85(1) shall be subject to this rule in so far as they relate to protected deposits. 6 In this rule— eligible depositor” has the meaning given to it by section 93(3) of the Banking Act 2009; “FSA Rules” mean the FSA’s Compensation Sourcebook, as amended from time to time, made under section 213 of the Financial Services and Markets Act 2000; prescribed limit” means the amount prescribed as the maximum compensation payable in respect of protected deposits under Part 15 of the Financial Services and Markets Act 2000; and protected deposit” means a protected deposit within the meaning given by the FSA Rules held by the building society at the date of the notice referred to in rule 2.85(1) but does not include a share in the society held by an eligible depositor. 2008 c.8.
This XML file does not appear to have any style information associated with it. The document tree is shown below.
<Legislation xmlns="http://www.legislation.gov.uk/namespaces/legislation" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" DocumentURI="http://www.legislation.gov.uk/uksi/2010/2580/made" IdURI="http://www.legislation.gov.uk/id/uksi/2010/2580" NumberOfProvisions="63" xsi:schemaLocation="http://www.legislation.gov.uk/namespaces/legislation http://www.legislation.gov.uk/schema/legislation.xsd" SchemaVersion="1.0">
<ukm:Metadata xmlns:dc="http://purl.org/dc/elements/1.1/" xmlns:dct="http://purl.org/dc/terms/" xmlns:atom="http://www.w3.org/2005/Atom" xmlns:ukm="http://www.legislation.gov.uk/namespaces/metadata">
<dc:identifier>http://www.legislation.gov.uk/uksi/2010/2580/rule/49/made</dc:identifier>
<dc:title>The Building Society Special Administration (England and Wales) Rules 2010</dc:title>
<dc:subject>Building societies</dc:subject>
<dc:subject>Building control services</dc:subject>
<dc:subject>Banking</dc:subject>
<dc:subject>Appointments procedure</dc:subject>
<dc:language>en</dc:language>
<dc:publisher>King's Printer of Acts of Parliament</dc:publisher>
<dc:modified>2024-08-14</dc:modified>
<dc:subject scheme="SIheading">BUILDING SOCIETIES, ENGLAND AND WALES</dc:subject>
<dc:subject scheme="SIheading">INSOLVENCY, ENGLAND AND WALES</dc:subject>
<dc:description>These Rules set out the procedure for the building society special administration process under Part 3 of the Banking Act 2009 (c.1), as applied in relation to building societies by the Building Societies (Insolvency and Special Administration) Order 2009 (S.I. 2009/805).</dc:description>
<atom:link rel="self" href="http://www.legislation.gov.uk/uksi/2010/2580/rule/49/made/data.xml" type="application/xml"/>
<atom:link rel="http://www.legislation.gov.uk/def/navigation/resources" href="http://www.legislation.gov.uk/uksi/2010/2580/resources" title="More Resources"/>
<atom:link rel="http://www.legislation.gov.uk/def/navigation/impacts" href="http://www.legislation.gov.uk/uksi/2010/2580/impacts" title="Impact Assessments"/>
<atom:link rel="http://www.legislation.gov.uk/def/navigation/memorandum" href="http://www.legislation.gov.uk/uksi/2010/2580/memorandum" title="Explanatory Memorandum"/>
<atom:link rel="http://www.legislation.gov.uk/def/navigation/memorandum/toc" href="http://www.legislation.gov.uk/uksi/2010/2580/memorandum/contents" title="Explanatory Memorandum Table of Contents"/>
<atom:link rel="http://www.legislation.gov.uk/def/navigation/act" href="http://www.legislation.gov.uk/uksi/2010/2580/made" title="whole act"/>
<atom:link rel="http://www.legislation.gov.uk/def/navigation/introduction" href="http://www.legislation.gov.uk/uksi/2010/2580/introduction/made" title="introduction"/>
<atom:link rel="http://www.legislation.gov.uk/def/navigation/signature" href="http://www.legislation.gov.uk/uksi/2010/2580/signature/made" title="signature"/>
<atom:link rel="http://www.legislation.gov.uk/def/navigation/note" href="http://www.legislation.gov.uk/uksi/2010/2580/note/made" title="note"/>
<atom:link rel="http://www.legislation.gov.uk/def/navigation/body" href="http://www.legislation.gov.uk/uksi/2010/2580/body/made" title="body"/>
<atom:link rel="alternate" type="application/rdf+xml" href="http://www.legislation.gov.uk/uksi/2010/2580/rule/49/made/data.rdf" title="RDF/XML"/>
<atom:link rel="alternate" type="application/akn+xml" href="http://www.legislation.gov.uk/uksi/2010/2580/rule/49/made/data.akn" title="AKN"/>
<atom:link rel="alternate" type="application/xhtml+xml" href="http://www.legislation.gov.uk/uksi/2010/2580/rule/49/made/data.xht" title="HTML snippet"/>
<atom:link rel="alternate" type="text/html" href="http://www.legislation.gov.uk/uksi/2010/2580/rule/49/made/data.htm" title="Website (XHTML) Default View"/>
<atom:link rel="alternate" type="text/csv" href="http://www.legislation.gov.uk/uksi/2010/2580/rule/49/made/data.csv" title="CSV"/>
<atom:link rel="alternate" type="application/pdf" href="http://www.legislation.gov.uk/uksi/2010/2580/rule/49/made/data.pdf" title="PDF"/>
<atom:link rel="alternate" type="application/akn+xhtml" href="http://www.legislation.gov.uk/uksi/2010/2580/rule/49/made/data.html" title="HTML5 snippet"/>
<atom:link rel="http://purl.org/dc/terms/tableOfContents" hreflang="en" href="http://www.legislation.gov.uk/uksi/2010/2580/contents/made" title="Table of Contents"/>
<atom:link rel="up" href="http://www.legislation.gov.uk/uksi/2010/2580/made" title="Entire legislation"/>
<atom:link rel="prev" href="http://www.legislation.gov.uk/uksi/2010/2580/rule/48/made" title="Provision; Rule 48"/>
<atom:link rel="prevInForce" href="http://www.legislation.gov.uk/uksi/2010/2580/rule/48/made" title="Provision; Rule 48"/>
<atom:link rel="next" href="http://www.legislation.gov.uk/uksi/2010/2580/rule/50/made" title="Provision; Rule 50"/>
<atom:link rel="nextInForce" href="http://www.legislation.gov.uk/uksi/2010/2580/rule/50/made" title="Provision; Rule 50"/>
<ukm:SecondaryMetadata>
<ukm:DocumentClassification>
<ukm:DocumentCategory Value="secondary"/>
<ukm:DocumentMainType Value="UnitedKingdomStatutoryInstrument"/>
<ukm:DocumentStatus Value="final"/>
<ukm:DocumentMinorType Value="rule"/>
</ukm:DocumentClassification>
<ukm:Year Value="2010"/>
<ukm:Number Value="2580"/>
<ukm:Made Date="2010-10-20"/>
<ukm:Laid Date="2010-10-25" Class="UnitedKingdomParliament"/>
<ukm:ComingIntoForce>
<ukm:DateTime Date="2010-11-15"/>
</ukm:ComingIntoForce>
<ukm:ISBN Value="9780111503126"/>
<ukm:UnappliedEffects>
<ukm:UnappliedEffect URI="http://www.legislation.gov.uk/id/effect/uksi-2013-1765-6gk9riq1-18" AffectedProvisions="rule 4(1)(h)(via)" AffectingNumber="1765" AffectedNumber="2580" Type="inserted" AffectedClass="UnitedKingdomStatutoryInstrument" AffectingProvisions="art. 7(b)(ii)" Created="2013-12-05T17:59:35.07Z" EffectId="key-2151c0e611e3f4acaefb3ee64da740e3" AffectingURI="http://www.legislation.gov.uk/id/uksi/2013/1765" AffectedYear="2010" RequiresApplied="true" AffectingEffectsExtent="E+W+S+N.I." Modified="2013-12-05T17:59:35.07Z" AffectingYear="2013" AffectedURI="http://www.legislation.gov.uk/id/uksi/2010/2580" AffectingClass="UnitedKingdomStatutoryInstrument">
<ukm:AffectedTitle>The Building Society Special Administration (England and Wales) Rules 2010</ukm:AffectedTitle>
<ukm:AffectedProvisions>
<ukm:Section Ref="article-4-1-h" URI="http://www.legislation.gov.uk/id/uksi/2010/2580/article/4/1/h">rule 4(1)(h)</ukm:Section>
<ukm:Section Ref="article-4-1-via" URI="http://www.legislation.gov.uk/id/uksi/2010/2580/article/4/1/via" FoundRef="article-4">(via)</ukm:Section>
</ukm:AffectedProvisions>
<ukm:AffectingTitle>The Financial Services Act 2012 (Consequential Amendments and Transitional Provisions) (No. 3) Order 2013</ukm:AffectingTitle>
<ukm:AffectingProvisions>
<ukm:Section Ref="article-7-b-ii" URI="http://www.legislation.gov.uk/id/uksi/2013/1765/article/7/b/ii">art. 7(b)(ii)</ukm:Section>
</ukm:AffectingProvisions>
<ukm:CommencementAuthority>
<ukm:Section Ref="article-1" URI="http://www.legislation.gov.uk/id/uksi/2013/1765/article/1">art. 1</ukm:Section>
</ukm:CommencementAuthority>
<ukm:InForceDates>
<ukm:InForce Date="2013-09-01" Qualification="wholly in force" Applied="false"/>
</ukm:InForceDates>
</ukm:UnappliedEffect>
<ukm:UnappliedEffect AffectingClass="UnitedKingdomStatutoryInstrument" AffectingNumber="496" RequiresApplied="true" AffectedYear="2010" AffectedProvisions="rule 4(1)(h)(via)" Type="inserted" Row="808" Modified="2019-07-03T10:37:13Z" AffectingEffectsExtent="E+W+S+N.I." AffectingURI="http://www.legislation.gov.uk/id/uksi/2013/496" AffectedNumber="2580" AffectedURI="http://www.legislation.gov.uk/id/uksi/2010/2580" URI="http://www.legislation.gov.uk/id/effect/key-3a828aa7cb2b7c05a3d2d547e35b25c9" AffectedClass="UnitedKingdomStatutoryInstrument" AffectingYear="2013" AffectingProvisions="Sch. 11 para. 19(2)(b)(ii)" EffectId="key-3a828aa7cb2b7c05a3d2d547e35b25c9">
<ukm:AffectedTitle>The Building Society Special Administration (England and Wales) Rules 2010</ukm:AffectedTitle>
<ukm:AffectedProvisions>
<ukm:Section Ref="rule-4-1-h" URI="http://www.legislation.gov.uk/id/uksi/2010/2580/rule/4/1/h">rule 4(1)(h)</ukm:Section>
<ukm:Section Ref="rule-4-1-via" URI="http://www.legislation.gov.uk/id/uksi/2010/2580/rule/4/1/via" FoundRef="rule-4">(via)</ukm:Section>
</ukm:AffectedProvisions>
<ukm:AffectingTitle>The Financial Services Act 2012 (Mutual Societies) Order 2013</ukm:AffectingTitle>
<ukm:AffectingProvisions>
<ukm:Section Ref="schedule-11" URI="http://www.legislation.gov.uk/id/uksi/2013/496/schedule/11">Sch. 11 </ukm:Section>
<ukm:Section Ref="schedule-11-paragraph-19-2-b-ii" URI="http://www.legislation.gov.uk/id/uksi/2013/496/schedule/11/paragraph/19/2/b/ii">para. 19(2)(b)(ii)</ukm:Section>
</ukm:AffectingProvisions>
<ukm:Savings>
<ukm:Section Ref="schedule-12" URI="http://www.legislation.gov.uk/id/uksi/2013/496/schedule/12">Sch. 12</ukm:Section>
</ukm:Savings>
<ukm:CommencementAuthority>
<ukm:Section Ref="article-1-1" URI="http://www.legislation.gov.uk/id/uksi/2013/496/article/1/1">art. 1(1)</ukm:Section>
</ukm:CommencementAuthority>
<ukm:InForceDates>
<ukm:InForce Applied="false" Date="2013-04-01" Qualification="wholly in force"/>
</ukm:InForceDates>
</ukm:UnappliedEffect>
<ukm:UnappliedEffect Created="2017-04-18T15:26:49Z" AffectedClass="UnitedKingdomStatutoryInstrument" AffectingURI="http://www.legislation.gov.uk/id/uksi/2017/80" Row="61" RequiresApplied="true" AffectingEffectsExtent="E+W+S+N.I." AffectingNumber="80" URI="http://www.legislation.gov.uk/id/effect/uksi-2017-80-jcv4zyr2-61" AffectedNumber="2580" AffectedProvisions="rule 4(1)(h)(ai)" AffectingProvisions="Sch. para. 36" AffectingYear="2017" Type="inserted" Modified="2017-04-18T15:26:49Z" AffectedYear="2010" EffectId="key-c1a4244e698ceae81ae9eca46d50585e" AffectingClass="UnitedKingdomStatutoryInstrument" AffectedURI="http://www.legislation.gov.uk/id/uksi/2010/2580">
<ukm:AffectedTitle>The Building Society Special Administration (England and Wales) Rules 2010</ukm:AffectedTitle>
<ukm:AffectedProvisions>
<ukm:Section Ref="rule-4-1-h" URI="http://www.legislation.gov.uk/id/uksi/2010/2580/rule/4/1/h">rule 4(1)(h)</ukm:Section>
<ukm:Section Ref="rule-4-1-ai" URI="http://www.legislation.gov.uk/id/uksi/2010/2580/rule/4/1/ai" FoundRef="rule-4">(ai)</ukm:Section>
</ukm:AffectedProvisions>
<ukm:AffectingTitle>The Bank of England and Financial Services (Consequential Amendments) Regulations 2017</ukm:AffectingTitle>
<ukm:AffectingProvisions>
<ukm:Section Ref="schedule" URI="http://www.legislation.gov.uk/id/uksi/2017/80/schedule">Sch. </ukm:Section>
<ukm:Section Ref="schedule-paragraph-36" URI="http://www.legislation.gov.uk/id/uksi/2017/80/schedule/paragraph/36">para. 36</ukm:Section>
</ukm:AffectingProvisions>
<ukm:CommencementAuthority>
<ukm:Section Ref="regulation-1" URI="http://www.legislation.gov.uk/id/uksi/2017/80/regulation/1">reg. 1</ukm:Section>
</ukm:CommencementAuthority>
<ukm:InForceDates>
<ukm:InForce Applied="false" Date="2017-03-01" Qualification="wholly in force"/>
</ukm:InForceDates>
</ukm:UnappliedEffect>
</ukm:UnappliedEffects>
</ukm:SecondaryMetadata>
<ukm:Notes>
<ukm:Note IdURI="http://www.legislation.gov.uk/id/uksi/2010/2580/notes"/>
<ukm:Alternatives>
<ukm:Alternative URI="http://www.legislation.gov.uk/uksi/2010/2580/pdfs/uksiem_20102580_en.pdf" Date="2012-07-02" Title="Explanatory Memorandum" Size="57607"/>
</ukm:Alternatives>
</ukm:Notes>
<ukm:Alternatives>
<ukm:Alternative URI="http://www.legislation.gov.uk/uksi/2010/2580/pdfs/uksi_20102580_en.pdf" Date="2010-10-25" Size="149364"/>
</ukm:Alternatives>
<ukm:ImpactAssessments>
<ukm:ImpactAssessment URI="http://www.legislation.gov.uk/ukia/2010/469/pdfs/ukia_20100469_en.pdf" Date="2012-07-02" Title="Building Society Special Administration (England and Wales) Rules" Stage="Enactment" Department="Her Majesty's Treasury" Year="2010" Number="469"/>
</ukm:ImpactAssessments>
<ukm:Statistics>
<ukm:TotalParagraphs Value="63"/>
<ukm:BodyParagraphs Value="63"/>
<ukm:ScheduleParagraphs Value="0"/>
<ukm:AttachmentParagraphs Value="0"/>
<ukm:TotalImages Value="0"/>
</ukm:Statistics>
</ukm:Metadata>
<Secondary>
<Body DocumentURI="http://www.legislation.gov.uk/uksi/2010/2580/body/made" IdURI="http://www.legislation.gov.uk/id/uksi/2010/2580/body" NumberOfProvisions="63">
<Part DocumentURI="http://www.legislation.gov.uk/uksi/2010/2580/part/3/made" IdURI="http://www.legislation.gov.uk/id/uksi/2010/2580/part/3" NumberOfProvisions="25" id="part-3">
<Number>PART 3</Number>
<Title id="p00213">Process of Building Society Special Administration</Title>
<P1group>
<Title>Disapplication of set-off for protected deposits</Title>
<P1 DocumentURI="http://www.legislation.gov.uk/uksi/2010/2580/rule/49/made" IdURI="http://www.legislation.gov.uk/id/uksi/2010/2580/rule/49" id="rule-49">
<Pnumber>49</Pnumber>
<P1para>
<P2 DocumentURI="http://www.legislation.gov.uk/uksi/2010/2580/rule/49/1/made" IdURI="http://www.legislation.gov.uk/id/uksi/2010/2580/rule/49/1" id="rule-49-1">
<Pnumber>1</Pnumber>
<P2para>
<Text>This rule applies if—</Text>
<P3 DocumentURI="http://www.legislation.gov.uk/uksi/2010/2580/rule/49/1/a/made" IdURI="http://www.legislation.gov.uk/id/uksi/2010/2580/rule/49/1/a" id="rule-49-1-a">
<Pnumber>a</Pnumber>
<P3para>
<Text>FSA Rules allow the FSCS to make gross payments of compensation in respect of protected deposits; and</Text>
</P3para>
</P3>
<P3 DocumentURI="http://www.legislation.gov.uk/uksi/2010/2580/rule/49/1/b/made" IdURI="http://www.legislation.gov.uk/id/uksi/2010/2580/rule/49/1/b" id="rule-49-1-b">
<Pnumber>b</Pnumber>
<P3para>
<Text>all or part of a creditor’s claim against the building society is in respect of protected deposits.</Text>
</P3para>
</P3>
</P2para>
</P2>
<P2 DocumentURI="http://www.legislation.gov.uk/uksi/2010/2580/rule/49/2/made" IdURI="http://www.legislation.gov.uk/id/uksi/2010/2580/rule/49/2" id="rule-49-2">
<Pnumber>2</Pnumber>
<P2para>
<Text>In respect of protected deposits Rule 2.85 of the Insolvency Rules 1986 (as applied by Rule 60 below) shall apply and, for the purpose of determining the sums due from the building society to an eligible depositor under rule 2.85(3)—</Text>
<P3 DocumentURI="http://www.legislation.gov.uk/uksi/2010/2580/rule/49/2/a/made" IdURI="http://www.legislation.gov.uk/id/uksi/2010/2580/rule/49/2/a" id="rule-49-2-a">
<Pnumber>a</Pnumber>
<P3para>
<Text>where the total of the sums held by the building society for the eligible depositor in respect of protected deposits is no more than the prescribed limit then paragraph (3) applies; and</Text>
</P3para>
</P3>
<P3 DocumentURI="http://www.legislation.gov.uk/uksi/2010/2580/rule/49/2/b/made" IdURI="http://www.legislation.gov.uk/id/uksi/2010/2580/rule/49/2/b" id="rule-49-2-b">
<Pnumber>b</Pnumber>
<P3para>
<Text>where the sums held exceed the prescribed limit, then paragraph (4) applies.</Text>
</P3para>
</P3>
</P2para>
</P2>
<P2 DocumentURI="http://www.legislation.gov.uk/uksi/2010/2580/rule/49/3/made" IdURI="http://www.legislation.gov.uk/id/uksi/2010/2580/rule/49/3" id="rule-49-3">
<Pnumber>3</Pnumber>
<P2para>
<Text>Where this paragraph applies, there shall be deemed to have been no mutual dealings, regardless of whether there are any sums due from the depositor to the building society, and the sum due to the eligible depositor from the building society in respect of the protected deposits will be the total of the sums held by the building society for that depositor in respect of those deposits.</Text>
</P2para>
</P2>
<P2 DocumentURI="http://www.legislation.gov.uk/uksi/2010/2580/rule/49/4/made" IdURI="http://www.legislation.gov.uk/id/uksi/2010/2580/rule/49/4" id="rule-49-4">
<Pnumber>4</Pnumber>
<P2para>
<Text>Where this paragraph applies then—</Text>
<P3 DocumentURI="http://www.legislation.gov.uk/uksi/2010/2580/rule/49/4/a/made" IdURI="http://www.legislation.gov.uk/id/uksi/2010/2580/rule/49/4/a" id="rule-49-4-a">
<Pnumber>a</Pnumber>
<P3para>
<Text>any mutual dealings shall be treated as being mutual dealings only in relation to the amount by which the total of the sums due to the eligible depositor exceeds the prescribed limit, and</Text>
</P3para>
</P3>
<P3 DocumentURI="http://www.legislation.gov.uk/uksi/2010/2580/rule/49/4/b/made" IdURI="http://www.legislation.gov.uk/id/uksi/2010/2580/rule/49/4/b" id="rule-49-4-b">
<Pnumber>b</Pnumber>
<P3para>
<Text>the sums due from the building society to the eligible depositor in respect of protected deposits will be—</Text>
<P4 DocumentURI="http://www.legislation.gov.uk/uksi/2010/2580/rule/49/4/b/i/made" IdURI="http://www.legislation.gov.uk/id/uksi/2010/2580/rule/49/4/b/i" id="rule-49-4-b-i">
<Pnumber>i</Pnumber>
<P4para>
<Text>the amount by which that total exceeds the prescribed limit, set off in accordance with rule 2.85(3); and</Text>
</P4para>
</P4>
<P4 DocumentURI="http://www.legislation.gov.uk/uksi/2010/2580/rule/49/4/b/ii/made" IdURI="http://www.legislation.gov.uk/id/uksi/2010/2580/rule/49/4/b/ii" id="rule-49-4-b-ii">
<Pnumber>ii</Pnumber>
<P4para>
<Text>the sums held by the bank for the eligible depositor in respect of protected deposits up to the prescribed limit.</Text>
</P4para>
</P4>
</P3para>
</P3>
</P2para>
</P2>
<P2 DocumentURI="http://www.legislation.gov.uk/uksi/2010/2580/rule/49/5/made" IdURI="http://www.legislation.gov.uk/id/uksi/2010/2580/rule/49/5" id="rule-49-5">
<Pnumber>5</Pnumber>
<P2para>
<Text>Any arrangements with regard to set-off between the building society and the eligible depositor in existence before the date of the notice referred to in rule 2.85(1) shall be subject to this rule in so far as they relate to protected deposits.</Text>
</P2para>
</P2>
<P2 DocumentURI="http://www.legislation.gov.uk/uksi/2010/2580/rule/49/6/made" IdURI="http://www.legislation.gov.uk/id/uksi/2010/2580/rule/49/6" id="rule-49-6">
<Pnumber>6</Pnumber>
<P2para>
<Text>In this rule—</Text>
<UnorderedList Decoration="none" Class="Definition">
<ListItem>
<Para>
<Text>
<Term id="term-eligible-depositor">eligible depositor</Term>
” has the meaning given to it by section 93(3) of the Banking Act 2009;
</Text>
</Para>
</ListItem>
<ListItem>
<Para>
<Text>
“FSA Rules” mean the FSA’s Compensation Sourcebook, as amended from time to time, made under section 213 of the Financial Services and Markets Act 2000
<FootnoteRef Ref="f00018"/>
;
</Text>
</Para>
</ListItem>
<ListItem>
<Para>
<Text>
<Term id="term-prescribed-limit">prescribed limit</Term>
” means the amount prescribed as the maximum compensation payable in respect of protected deposits under Part 15 of the Financial Services and Markets Act 2000; and
</Text>
</Para>
</ListItem>
<ListItem>
<Para>
<Text>
<Term id="term-protected-deposit">protected deposit</Term>
” means a protected deposit within the meaning given by the FSA Rules held by the building society at the date of the notice referred to in rule 2.85(1) but does not include a share in the society held by an eligible depositor.
</Text>
</Para>
</ListItem>
</UnorderedList>
</P2para>
</P2>
</P1para>
</P1>
</P1group>
</Part>
</Body>
</Secondary>
<Footnotes>
<Footnote id="f00018">
<FootnoteText>
<Para>
<Text>
<Citation URI="http://www.legislation.gov.uk/id/ukpga/2008/8" id="c00046" Class="UnitedKingdomPublicGeneralAct" Year="2008" Number="0008">2008 c.8</Citation>
.
</Text>
</Para>
</FootnoteText>
</Footnote>
</Footnotes>
</Legislation>