SCHEDULES

SCHEDULE 7

Part I Consequential Amendments

The Banking Act 1979 (c.37)

16

In section 28 (payments to depositors on institution’s insolvency)—

a

in subsection (6)—

i

in paragraph (a), after the word “proved” there shall be inserted the words “or whose claim has been accepted in the sequestration”; and

ii

in paragraph (b)(iii), for the words “72” and “1913” there shall be substituted, respectively, the words “30” and “1985”; and

b

in subsection (7)(c)—

i

the words from “where” to “court,” shall cease to have effect; and

ii

for the words “deed of arrangement or other settlement or arrangement by way” there shall be substituted the words “trust deed, contract of composition or offer”.