The Financial Services and Markets Act 2000 (Consequential Amendments and Repeals) Order 2001

Winding up of an authorised deposit taker or former authorised institution

435.—(1) In paragraph (1)(b) of article 10 of the Iraq (United Nations) (Sequestration of Assets) Order 1993 (Scope of Third Party Rights) for “or is the subject of a winding-up order under section 92 of the Banking Act” substitute “or is, or has been, an authorised deposit taker or is a former authorised institution, and is the subject of a winding-up order under section 367 of the Financial Services and Markets Act 2000(1)”.

(2) In paragraph (3)(iv) of article 20 of that Order (restitution), for “or a winding-up order made against it under section 92 of the Banking Act” substitute “or is an authorised deposit taker or former authorised institution and has a winding-up order made against it under section 367 of the Financial Services and Markets Act 2000”.

(1)

Article 12 of the Financial Services and Markets Act 2000 (Transitional Provisions and Savings) (Civil Remedies, Discipline, Criminal Offences etc.) (No. 2) Order 2001 (S.I. 2001/ 3083) provides that a former authorised institution may be treated as if it were a person who has been an authorised person for the purposes of s.367(1)(a) of the Financial Services and Markets Act 2000.