Bankruptcy (Scotland) Act 1985 (repealed)

[F1Meaning of eligible depositS

Textual Amendments

F1 Sch. 3 para. 9A and cross-heading inserted (31.12.2014) by Financial Services (Banking Reform) Act 2013 (c. 33), ss. 13(4), 148(5); S.I. 2014/3160, art. 2(1)(a)

9A(1)In [F2paragraphs 6B to 6D] “eligible deposit” means a deposit in respect of which the person, or any of the persons, to whom it is owed would be eligible for compensation under the Financial Services Compensation Scheme.S

(2)For [F3the purposes of those paragraphs and this paragraph] a “deposit” means rights of the kind described in paragraph 22 of Schedule 2 to the Financial Services and Markets Act 2000 (deposits).]

[F4(3)In paragraphs 6C and 6D, “eligible person” means—

(a)an individual, or

(b)a micro-enterprise, a small enterprise or a medium-sized enterprise, each of those terms having the meaning given in Article 2.1(107) of the Directive 2014/59/EU of 15th May 2014 establishing a framework for the recovery and resolution of credit institutions and investment firms.

(4)In paragraph 6D—

(a)“credit institution” has the meaning given in Article 4.1(1) of the capital requirements regulation;

(b)“EEA branch” means a branch, as defined in Article 4.1(17) of the capital requirements regulation, which is established in an EEA state;

(c)“non-EEA branch” means a branch, as so defined, which is established in a country which is not an EEA state;

and for this purpose “the capital requirements regulation” means Regulation (EU) No 575/2013 of the European Parliament and of the Council of 26th June 2013 on prudential requirements for credit institutions and investment firms and amending Regulation (EU) No 648/2012.]

Textual Amendments