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The Deposit Protection Board (Increase of Borrowing Limit) Order 1991
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Statutory Instruments
1991 No. 1684
BANKS AND BANKING
The Deposit Protection Board (Increase of Borrowing Limit) Order 1991
Made
24th July 1991
Laid before Parliament
25th July 1991
Coming into force
1st August 1991
The Treasury in exercise of the powers conferred upon them by section 64 of the Banking Act 1987(1) and of all other powers enabling them in that behalf, and after consultation with the Deposit Protection Board, hereby order as follows:
Citation and commencement
1. This Order may be cited as the Deposit Protection Board (Increase of Borrowing Limit) Order 1991 and shall come into force on 1st August 1991.
Increase of borrowing limit
2. The sum of £125 million is hereby prescribed for the purposes of section 64(1) of the Banking Act 1987 (borrowing powers of the Deposit Protection Board).
Revocation of earlier instrument
3. The Deposit Protection Board (Increase of Borrowing Limit) (No. 2) Order 1990(2)is hereby revoked.
Gregory Knight
Sydney Chapman
Two of the Lords Commissioners of Her Majesty’s Treasury.
24th July 1991
Explanatory Note
(This note is not part of the Order)
This Order prescribes a limit of £125 million for the purposes of the borrowing power of the Deposit Protection Board contained in section 64(1) of the Banking Act 1987. The limit replaces the limit of £50 million prescribed by the Deposit Protection Board (Increase of Borrowing Limit) (No. 2) Order 1990, which is revoked.
(1)
(2)
S.I. 1990/2064.
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