855Meaning of “investment” and “deposit”U.K.
This section has no associated Explanatory Notes
[F1(1)In this Chapter, and section 876, “investment” means a deposit with a deposit-taker.]
(2)In this Chapter “deposit” means a sum of money paid on terms which mean that it will be repaid (with or without interest)—
(a)on demand, or
(b)at a time or in circumstances agreed by or on behalf of the person who pays it and the person who receives it.
Textual Amendments
F1S. 855(1) substituted (with effect in accordance with Sch. 6 para. 28 of the amending Act) by Finance Act 2016 (c. 24), Sch. 6 para. 9