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”.