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The Banking Act 1987 (Exempt Transactions) (Amendment) Regulations 2000
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Statutory Instruments
2000 No. 635
BANKS AND BANKING
The Banking Act 1987 (Exempt Transactions) (Amendment) Regulations 2000
Made
7th March 2000
Laid before Parliament
8th March 2000
Coming into force
1st April 2000
The Treasury, in exercise of the powers conferred on them by section 4(4) of the Banking Act 1987(1), hereby make the following Regulations:
Citation and commencement
1. These Regulations may be cited as the Banking Act 1987 (Exempt Transactions) (Amendment) Regulations 2000 and shall come into force on 1st April 2000.
Revocation
2. Regulation 7 of, and Schedule 1 to, the Banking Act 1987 (Exempt Transactions) Regulations 1997(2) are hereby revoked.
Greg Pope
Bob Ainsworth
Two of the Lords Commissioners of Her Majesty’s Treasury
7th March 2000
Explanatory Note
(This note is not part of the Regulations)
These Regulations revoke regulation 7 of, and Schedule 1 to, the Banking Act 1987 (Exempt Transactions) Regulations 1997. The effect is that the acceptance of deposits by certain retail and other co-operative societies is no longer exempt from the prohibition on the acceptance of deposits in section 3 of the Banking Act 1987 by virtue of the society’s participation in the Co-operative Deposit Protection Scheme.
(1)
(2)
S.I. 1997/817, to which there is an amendment not relevant to these Regulations.
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