The Credit Institutions (Protection of Depositors)Regulations 1995

Powers of authority responsible for host State scheme

18.—(1) Where a UK institution or building society which is participating in a host State scheme becomes insolvent (within the meaning of the relevant Part), the relevant enactments (which enable the relevant Board to obtain information) shall have effect as if—

(a) any reference to the relevant Board included a reference to the authority having responsibility for the host State scheme;

(b) any reference to the relevant Part included a reference to the corresponding provision of the law of the EEA State in which the host State scheme is in force; and

(c) any reference (however expressed) to a deposit protected by, or to a payment under, the relevant UK scheme included a reference to a deposit protected by, or to a payment under, the host State scheme.

(2) In this regulation “the relevant Board”, “the relevant enactments”, “the relevant Part” and “the relevant UK scheme” mean respectively—

(a) in relation to a UK institution, the Deposit Protection Board, section 58(8) and (9) and section 65(3) and (4) of the 1987 Act, Part II of that Act and the deposit protection scheme;

(b) in relation to a building society, the Investor Protection Board, section 29A(3) and (4) of the 1986 Act, Part IV of that Act and the investor protection scheme.

(3) Any reference in this regulation to a UK institution includes a reference to an institution which was formerly a UK institution and continues to have a liability in respect of any deposit for which it had a liability at a time when it was a UK institution.

(4) Nothing in section 65(3) of the 1987 Act (as modified by this regulation), or section 29A(3) of the 1986 Act (as so modified), shall entitle an authority having responsibility for a host State scheme to require information to be provided or furnished, or documents, books or papers to be produced, at a place outside the United Kingdom.