- Latest available (Revised)
- Original (As enacted)
This is the original version (as it was originally enacted).
7(1)In section 24A (dishonestly retaining a wrongful credit), omit subsections (3) and (4) and after subsection (2) insert—
“(2A)A credit to an account is wrongful to the extent that it derives from—
(a)theft;
(b)blackmail;
(c)fraud (contrary to section 1 of the Fraud Act 2006); or
(d)stolen goods.”
(2)In subsection (7), for “subsection (4)” substitute “subsection (2A)”.
(3)For subsection (9) substitute—
“(9)“Account” means an account kept with—
(a)a bank;
(b)a person carrying on a business which falls within subsection (10) below; or
(c)an issuer of electronic money (as defined for the purposes of Part 2 of the Financial Services and Markets Act 2000).
(10)A business falls within this subsection if—
(a)in the course of the business money received by way of deposit is lent to others; or
(b)any other activity of the business is financed, wholly or to any material extent, out of the capital of or the interest on money received by way of deposit.
(11)References in subsection (10) above to a deposit must be read with—
(a)section 22 of the Financial Services and Markets Act 2000;
(b)any relevant order under that section; and
(c)Schedule 2 to that Act;
but any restriction on the meaning of deposit which arises from the identity of the person making it is to be disregarded.
(12)For the purposes of subsection (10) above—
(a)all the activities which a person carries on by way of business shall be regarded as a single business carried on by him; and
(b)“money” includes money expressed in a currency other than sterling.”
Latest Available (revised):The latest available updated version of the legislation incorporating changes made by subsequent legislation and applied by our editorial team. Changes we have not yet applied to the text, can be found in the ‘Changes to Legislation’ area.
Original (As Enacted or Made): The original version of the legislation as it stood when it was enacted or made. No changes have been applied to the text.
Text created by the government department responsible for the subject matter of the Act to explain what the Act sets out to achieve and to make the Act accessible to readers who are not legally qualified. Explanatory Notes were introduced in 1999 and accompany all Public Acts except Appropriation, Consolidated Fund, Finance and Consolidation Acts.
Access essential accompanying documents and information for this legislation item from this tab. Dependent on the legislation item being viewed this may include:
Use this menu to access essential accompanying documents and information for this legislation item. Dependent on the legislation item being viewed this may include:
Click 'View More' or select 'More Resources' tab for additional information including: