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  1. Introductory Text

  2. PART I Control of Deposit-Taking

    1. Ambit of control

      1. 1.Control of deposit-taking and meaning of " deposit"

      2. 2.Exceptions from prohibition in section 1(1)

    2. The system of recognition and licensing by the Bank

      1. 3.Recognition and licences

      2. 4.Annual report and list of recognised and licensed institutions

      3. 5.Recognition and licences: procedure on applications

    3. Revocation of recognition or licence

      1. 6.Grounds for revocation of recognition or licence

      2. 7.Revocation: powers and procedure

      3. 8.Power to give directions in connection with termination of deposit-taking authority

      4. 9.Duration of directions and direction-making power

      5. 10.Conditional licences

    4. Appeals

      1. 11.Appeals from decisions of the Bank

      2. 12.Regulations with respect to appeals

      3. 13.Further appeal on points of law

    5. Duties of licensed institutions

      1. 14.Duty to notify changes of directors etc.

      2. 15.Audited accounts of licensed institutions to be open to inspection

    6. Powers of the Bank

      1. 16.Powers to obtain information and require production of documents

      2. 17.Investigations on behalf of the Bank

      3. 18.Winding up on petition from the Bank

      4. 19.Confidentiality of information obtained by the Bank

      5. 20.Information disclosed to the Bank from other sources

  3. PART II The Deposit Protection Scheme

    1. The Board and the Fund

      1. 21.The Deposit Protection Board

      2. 22.The Deposit Protection Fund

    2. Contributions to the Fund

      1. 23.Contributory institutions and general provisions as to contributions

      2. 24.Initial contributions

      3. 25.Further contributions

      4. 26.Special contributions and power to borrow

      5. 27.Maximum and minimum contributions

    3. Payments out of the Fund

      1. 28.Payments to depositors when institution becomes insolvent

      2. 29.Protected deposits

      3. 30.Trustee deposits and joint deposits

      4. 31.Liability of insolvent institutions in respect of payments made by the Board

    4. Repayments in respect of contributions

      1. 32.Repayments in respect of contributions

      2. 33.Tax treatment of contributions and repayments

  4. PART III Advertisements and Banking Names

    1. Advertisements for deposits

      1. 34.Control of advertisements for deposits

      2. 35.Specific prohibitions etc. directed at licensed institutions

    2. Banking names and descriptions

      1. 36.Restriction on use of certain names and descriptions

      2. 37.Transitory exceptions from section 36(1)

  5. PART IV Miscellaneous and General

    1. 38.Amendments of Consumer Credit Act 1974

    2. 39.Fraudulent inducement to make a deposit

    3. 40.Representative offices of overseas deposit-taking institutions

    4. 41.Offences

    5. 42.Offences committed by unincorporated institutions

    6. 43.Exclusion of certain provisions relating to rehabilitation of offenders

    7. 44.Evidence

    8. 45.Service of notices

    9. 46.Repeal of certain enactments relating to banks and banking

    10. 47.Defence of contributory negligence

    11. 48.Municipal banks

    12. 49.Meaning of " director ", " controller " and " manager "

    13. 50.Interpretation

    14. 51.Consequential amendments and repeals

    15. 52.Short title, commencement and extent

  6. SCHEDULES

    1. SCHEDULE 1

      Exceptions from Prohibition in Section 1

      1. 1.The central bank of each member State other than the...

      2. 2.The National Savings Bank.

      3. 3.The Post Office.

      4. 4.A trustee savings bank or penny savings bank.

      5. 5.A municipal bank.

      6. 6.A building society within the meaning of the Building Societies...

      7. 7.A society which is registered within the meaning of the...

      8. 8.Any institution or unincorporated institution which is for the time...

      9. 9.A member of The Stock Exchange in the course of...

      10. 10.A loan society whose rules are certified, deposited and enrolled...

      11. 11.A credit union within the meaning of the Industrial and...

      12. 12.A body of persons certified as a school bank by...

      13. 13.A local authority.

      14. 14.Any other body which by virtue of any enactment has...

    2. SCHEDULE 2

      Minimum Criteria for Deposit-Taking Institutions

      1. PART I Recognised Banks

        1. 1.(1) Subject to sub-paragraph (2) below, the institution enjoys, and...

        2. 2.(1) The institution provides in the United Kingdom or, in...

        3. 3.The business of the institution is or, in the case...

        4. 4.At least two individuals effectively direct the business of the...

        5. 5.(1) Without prejudice to paragraph 6 below but subject to...

        6. 6.(1) The institution maintains or, in the case of an...

      2. PART II Licensed Institutions

        1. 7.Every person who is a director, controller or manager of...

        2. 8.At least two individuals effectively direct the business of the...

        3. 9.(1) Without prejudice to paragraph 10(1)(a) below but subject to...

        4. 10.(1) The institution conducts or, in the case of an...

    3. SCHEDULE 3

      Transitional Provisions

      1. PART I Transitional Licences

        1. 1.(1) A transitional licence to carry on a deposit-taking business...

        2. 2.Section 5 of this Act shall apply in relation to...

        3. 3.(1) The authority conferred by a transitional licence may be...

        4. 4.(1) Subject to sub-paragraphs (2) and (3) below, a transitional...

        5. 5.(1) In the case of an institution holding a transitional...

        6. 6.(1) In their application to an institution which is the...

        7. 7.(1) In its application to an institution to which a...

      2. PART II Transitional Grant of Recognition

        1. 8.The provisions of this Part of this Schedule apply to...

        2. 9.Notwithstanding anything in section 3(3) of this Act, the Bank...

    4. SCHEDULE 4

      Revocation of Recognition or Licence

      1. PART I Procedure Where Notice of Intention to Act is Given

        1. 1.(1) Where the Bank has given to an institution notice...

        2. 2.(1) The Bank shall give the institution concerned notice in...

      2. PART II Procedure Where Immediate Revocation Notice is Given

        1. 3.An immediate revocation notice given to an institution shall specify...

        2. 4.(1) If representations are made by or on behalf of...

        3. 5.(1) The Bank shall give the institution concerned notice in...

    5. SCHEDULE 5

      The Deposit Protection Board

      1. Constitution

        1. 1.(1) The Board shall* consist of three ex officio members,...

      2. Proceedings

        1. 2.(1) The Board shall determine their own procedure, including the...

        2. 3.(1) The fixing of the common seal of the Board...

      3. Accounts, audit and annual report

        1. 4.(1) The Board may determine their own financial year.

    6. SCHEDULE 6

      Consequential Amendments

      1. PART I Enactments Amended

        1. The Bankers' Books EvidenceAct 1879 (c.11)

          1. 1.For section 9 of the Bankers' Books Evidence Act 1879...

        2. The Agricultural Credits Act 1928 (c.43)

          1. 2.In subsection (7) of section 5 of the Agricultural Credits...

        3. The Agricultural Credits {Scotland) Act 1929 (c.13)

          1. 3.In subsection (2) of section 9 of the Agricultural Credits...

        4. The Prevention of Fraud (Investments) Act (Northern Ireland) 1940 (c.9) (N.I.)

          1. 4.(1) Subsection (1) of section 12 of the Prevention of...

        5. The Prevention of Fraud (Investments) Act 1958 (c.45)

          1. 5.(1) Subsection (1) of section 13 of the Prevention of...

        6. The Building Societies Act 1962 (c.37)

          1. 6.In subsection (5) of section 59 of the Building Societies...

        7. The Building Societies Act (Northern Ireland) 1967 (c.31) (N.I.)

          1. 7.In subsection (5) of section 59 of the Building Societies...

        8. The Industrial and Provident Societies Act (Northern Ireland) 1969 (c.24) (N.I.)

          1. 8.At the end of section 87 of the Industrial and...

        9. The Solicitors Act 1974 (c.47)

          1. 9.In subsection (1) of section 87 of the Solicitors Act...

        10. The Solicitors (Scotland) Act 1976 (c.6)

          1. 10.In subsection (1) of section 5 of the Solicitors (Scotiand)...

        11. The Home Purchase Assistance and Housing Corporation Guarantee Act 1978 (c.27)

          1. 11.In Part I of the Schedule to the Home Purchase...

        12. The Home Purchase Assistance {Northern Ireland) Order 1978 (1978/1043) (N.I. 13)

          1. 12.In Part I of the Schedule to the Home Purchase...

      2. PART II Savings

        1. The Bankers' Books Evidence Act 1879 (c.11)

          1. 13.Nothing in paragraph 1 above shall affect the operation of...

        2. The Agricultural Credits Act 1928 (c.43)

          1. 14.Nothing in paragraph 2 above shall affect the validity of,...

        3. The Agricultural Credits (Scotland) Act 1929 (c.13)

          1. 15.Nothing in paragraph 3 above shall affect the validity of,...

        4. The Building Societies Act 1962 (c.37)

          1. 16.Nothing in paragraph 6 above shall affect the authority of...

        5. The Building Societies Act (Northern Ireland) 1967 (c.31) (N.I.)

          1. 17.Nothing in paragraph 7 above shall affect the authority of...

        6. The Industrial and Provident Societies Act (Northern Ireland) 1969 (c.24) (N.I.)

          1. 18.Nothing in paragraph 8 above shall affect the authority of...

          2. 19.The savings contained in this Part of this Schedule are...

    7. SCHEDULE 7

      Enactments Repealed