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

Special provisions in relation to banks etc. in compulsory liquidation

74.—(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—

  (i)

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

  (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.