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1(1)This Schedule applies where—
(a)a company is being, or has been, wound up by the court in the United Kingdom,
(b)the company was, at any time in the period mentioned in sub-paragraph (2) below, lawfully carrying on a deposit-taking business within the meaning of the [1987 c. 22.] Banking Act 1987 (otherwise than by virtue of an exemption under section 4 of that Act),
(c)the trade of the company that included the deposit-taking business (referred to in this Schedule as “the relevant trade”) has been permanently discontinued, and
(d)the company is insolvent and either was so when the winding-up proceedings were commenced or became so at any time in the period of twelve months following the day on which they were commenced.
(2)The period mentioned in sub-paragraph (1)(b) above is the period of twelve months ending with—
(a)the day on which the winding-up proceedings were commenced, or
(b)the day on which the relevant trade was discontinued,
whichever was the earlier.
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