PART 4 ENACTMENTS RELATING TO THE BANK OF ENGLAND

Bank of England Act 1998 (c. 11)

163 Cash ratio deposits
1 For sub-paragraph (1) of paragraph 1 of Schedule 2 to the Bank of England Act 1998 (cash ratio deposits) substitute—

“1 Each deposit-taker is an eligible institution for the purposes of this Schedule.
1A “Deposit-taker” has the meaning given in section 17, except that it does not include—
(a) a credit union;
(b) a friendly society;
(c) a person who has permission to accept deposits under Part 4 of the Financial Services and Markets Act 2000 only in the course of effecting or carrying out contracts of insurance in accordance with that permission; or
(d) an EEA firm of the kind mentioned in paragraph 5(c) of Schedule 3 to that Act.
1B “Credit union” has the meaning given—
(a) by the Credit Unions Act 1979; or
(b) in Northern Ireland, by the Credit Unions (Northern Ireland) Order 1985.
1C “Friendly society” means—
(a) a society which is registered within the meaning of the Friendly Societies Act 1974; or
(b) a society incorporated under the Friendly Societies Act 1992.”

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2 In sub-paragraph (2) of that paragraph, for “sub-paragraph (1)” substitute “sub-paragraphs (1) to (1C)”.