http://www.legislation.gov.uk/ukpga/2009/1/section/93Banking Act 2009An Act to make provision about banking.texttext/xmlenStatute Law Database2026-02-20Expert Participation2026-01-19 Banking Act 2009s. 4(8A) (8B)Financial Services Act 2012s. 96(3)Sch. 20s. 122(3)Banking Act 2009s. 8(2)(d) and wordFinancial Services Act 2012s. 96(4)(b)Sch. 20s. 122(3) Part 2931In this Part—a“the PRA” means the Prudential Regulation Authority, andb“the FCA” means the Financial Conduct Authority.2In this Part a reference to “the FSCS” is a reference to—athe Financial Services Compensation Scheme (established under Part 15 of the Financial Services and Markets Act 2000), orbwhere appropriate, the scheme manager of that Scheme.3In this Part “eligible depositors” means depositors who are eligible for compensation under the FSCS.4For the purposes of a reference in this Part to inability to pay debts—aa bank that is in default on an obligation to pay a sum due and payable under an agreement, is to be treated as unable to pay its debts, andbsection 123 of the Insolvency Act 1986 (inability to pay debts) also applies; andfor the purposes of paragraph (a) “agreement” means an agreement the making or performance of which constitutes or is part of a regulated activity carried on by the bank.5Expressions used in this Part and in the Insolvency Act 1986 have the same meaning as in that Act.6Expressions used in this Part and in the Companies Act 2006 have the same meaning as in that Act.7A reference in this Part to action includes a reference to inaction.8The expression “fair” is used in this Part as a shorter modern equivalent of the expression “just and equitable” (and is not therefore intended to exclude the application of any judicial or other practice relating to the construction and application of that expression).S. 93 in force at 21.2.2009 by S.I. 2009/296, art. 3, Sch. para. 2Pt. 2 applied (with modifications) by 1986 c. 53, s. 90C (as inserted (29.3.2009) by Building Societies (Insolvency and Special Administration) Order 2009 (S.I. 2009/805), art. 2)Pt. 2 restricted (7.1.2010) by Banking Act 2009 (Exclusion of Insurers) Order 2010 (S.I. 2010/35), arts. 1, 2Pt. 2 applied (with modifications) (8.2.2011) by The Investment Bank Special Administration Regulations 2011 (S.I. 2011/245), reg. 1, Sch. 1 paras. 6, 7S. 93(1) substituted (1.4.2013) by Financial Services Act 2012 (c. 21), s. 122(3), Sch. 17 para. 31 (with Sch. 20); S.I. 2013/423, art. 3, Sch.Pt. 2 modified (29.3.2009) by Building Societies (Insolvency and Special Administration) Order 2009 (S.I. 2009/805), Sch. 1 para. 1 (as amended (7.4.2010) by Building Societies (Insolvency and Special Administration) (Amendment) Order 2010 (S.I. 2010/1189), arts. 1(2), 2 and amended (7.4.2017) by The Deregulation Act 2015, the Small Business, Enterprise and Employment Act 2015 and the Insolvency (Amendment) Act (Northern Ireland) 2016 (Consequential Amendments and Transitional Provisions) Regulations 2017 (S.I. 2017/400), regs. 1(2), 8)S. 93(4) applied (with modifications) by S.I. 2011/99, reg. 24A, Sch. 2ZA para. 1 (as inserted (8.12.2020) by The Payment Services and Electronic Money (Amendment) Regulations 2020 (S.I. 2020/1275), regs. 1(2), 3, 4)S. 93(4) applied (with modifications) by S.I. 2017/752, reg. 23A, Sch. 3A para. 1 (as inserted (8.12.2020) by The Payment Services and Electronic Money (Amendment) Regulations 2020 (S.I. 2020/1275), regs. 1(2), 6, 7)