Part IVAmendments of Part IV of 1986 Act
The Investor Protection Fund37.
(1)
In subsection (1) of section 25 of the 1986 Act28 (the Investor Protection Fund), for the words “building societies” there shall be substituted the words “participating institutions”.
(2)
After subsection (3) of that section there shall be inserted the following subsection—
“(3A)
In subsection (3) above, the reference to Treasury bills includes a reference to bills and other short-term instruments issued by the government of another EEA State and appearing to the Bank of England to correspond as nearly as may be to Treasury bills:”
(3)
In subsection (5) of that section, in the definition of “the expenses attributable to the insolvency”, for the words “building society” there shall be substituted the words “participating institution”.