PART 2AMENDMENTS TO PRIMARY LEGISLATION

The Finance (No. 2) Act 1992 (c. 48)

Special provisions in relation to banks etc. in compulsory liquidation74

1

In paragraph 1(1) of Schedule 12 to the Finance (No. 2) Act 1992 (banks etc. in compulsory liquidation: application)—

a

in paragraph (b) for the words from “deposit-taking” to the end substitute

  • business of accepting deposits as—

    1. i

      a person falling within section 840A(1)(b) of the Taxes Act 1988, or

    2. ii

      an EEA firm of the kind mentioned in paragraph 5(b) of Schedule 3 to the Financial Services and Markets Act 2000 with permission under paragraph 15 of that Schedule (as a result of qualifying for authorisation by virtue of paragraph 12 of that Schedule) to accept deposits,

b

in paragraph (c) for “deposit-taking business” substitute “business of accepting deposits”.

2

This Article has effect in relation to—

a

any period mentioned in paragraph 1(2) of Schedule 12 to the Finance (No. 2) Act 1992 (“a relevant period”) which begins on or after 1st December 2001; or

b

any part of a relevant period which falls on or after that date.