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The Financial Services and Markets Act 2000 (Exemption) Order 2001

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Changes over time for: PART II

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Status:

Point in time view as at 30/03/2015.

Changes to legislation:

There are currently no known outstanding effects for the The Financial Services and Markets Act 2000 (Exemption) Order 2001, PART II. Help about Changes to Legislation

PART IIU.K. PERSONS EXEMPT IN RESPECT OF ACCEPTING DEPOSITS

16.  A municipal bank, that is to say a company which was, immediately before the coming into force of this Order, exempted from the prohibition in section 3 of the Banking Act 1987 M1 by virtue of section 4(1) of, and paragraph 4 of Schedule 2 to, that Act.U.K.

Marginal Citations

M11987 c. 22; section 3 was amended by paragraph 3 of Schedule 5 to the Bank of England Act 1998 (c. 11). “Municipal bank" was defined in section 103 of the Banking Act 1987, which was amended by paragraph 22 of Schedule 3 to the Local Government Act 1992 (c. 19) and by paragraph 21 of Schedule 3 to the Local Government and Rating Act 1997 (c. 29).

17.    U.K.

(1) Keesler Federal Credit Union, in so far as it accepts deposits from members, or dependants of members, of a visiting force of the United States of America, or from members, or dependants of members, of a civilian component of such a force.

(2) In sub-paragraph (1), “member", “dependent" and “visiting force" have the meanings given by section 12 of the Visiting Forces Act 1952 M2 and “member of a civilian component" has the meaning given by section 10 of that Act.

Marginal Citations

M21952 c. 67; the definition of “visiting force" was amended by paragraph 14 of Schedule 15 to the Criminal Justice Act 1988 (c. 33).

18.  A body of persons certified as a school bank by the National Savings Bank or by an authorised person who has permission to accept deposits.U.K.

F119.  . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .U.K.

Textual Amendments

F1Sch. para. 19 omitted (14.2.2014 for specified purposes, 1.4.2014 in so far as not already in force) by virtue of The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) Order 2014 (S.I. 2014/366), arts. 1(3)(4), 8(2)

20.    U.K.

(1) Any body which by virtue of any enactment has power to issue a precept to a local authority in England or Wales or a requisition to a local authority in Scotland, or to the expenses of which, by virtue of any enactment, a local authority in the United Kingdom is or can be required to contribute.

(2) In sub-paragraph (1), “enactment" includes an enactment comprised in, or in an instrument made under, an Act of the Scottish Parliament.

[F221.  The Council of Europe Development Bank.]U.K.

22.  A charity, in so far as it accepts deposits—U.K.

(a)from another charity; or

(b)in respect of which no interest or premium is payable.

23.  The National Children’s Charities Fund in so far as—U.K.

(a)it accepts deposits in respect of which no interest or premium is payable; and

(b)the total value of the deposits made by any one person does not exceed £10,000.

24.  An industrial and provident society, in so far as it accepts deposits in the form of withdrawable share capital.U.K.

F324A.  . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .U.K.

F425.  . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .U.K.

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