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Banking Act 2009

Banking Act 2009

2009 CHAPTER 1

Commentary on Sections

Part 2: Bank Insolvency

Introduction

Section 91: Interpretation: “bank”

243.This section limits the application of the bank insolvency procedure to UK institutions with permission to accept deposits under the provisions of the Financial Services and Markets Act 2000. The procedure may be extended by secondary legislation to building societies and credit unions (sections 130 and 131). The Treasury may, by order, add to the exclusions from this definition of bank.

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