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49.—(1) Section 38A of the Industrial and Provident Societies Act (Northern Ireland) 1969(1) is amended as follows.
(2) In paragraph (3)(d) the words “within the meaning of the Banking Act 1987” are repealed.
(3) After paragraph (3) insert—
“(3A) In paragraph (3)(d), the reference 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.”.
Section 38A was inserted by the Deregulation (Northern Ireland) Order 1997, S.I. 1997/2984 (N.I. 22), Schedule 2, paragraph 6(2).
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