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Insolvency Act 1986
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Insolvency Act 1986, Section 422 is up to date with all changes known to be in force on or before 18 November 2024. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations.
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422 Recognised banks, etc. E+W+S
(1)The Secretary of State may, by order made with the concurrence of the Treasury and after consultation with the [F1Financial Services Authority], provide that such provisions in the first Group of Parts as may be specified in the order shall apply in relation to [F2any person who continues to have a liability in respect of a deposit which was held by him in accordance with the Banking Act 1979 or the Banking Act 1987] with such modifications as may be so specified.
(2)An order under this section may make different provision for different cases and may contain such incidental, supplemental and transitional provisions as may appear to the Secretary of State necessary or expedient.
(3)An order under this section shall be made by statutory instrument subject to annulment in pursuance of a resolution of either House of Parliament.
Textual Amendments
F1Words in s. 422(1) substituted (1.6.1998) by 1998 c. 11, s. 23, Sch. 5 Pt. I Chapter III para. 37; S.I. 1998/1120, art. 2
F2Words in s. 422(1) substituted (1.12.2001) by S.I. 2001/3649, arts. 1, 307
Modifications etc. (not altering text)
C1S. 422 extended by Company Directors Disqualification Act 1986 (c. 46, SIF 27), ss. 21(2), 25
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