PRIMARY LEGISLATION

The Insolvency Act 1986 (c. 45)

Power to apply first group of Parts to formerly authorised banks

16.—(1) Section 422 of the Insolvency Act 1986 (recognised banks, etc.) is amended as follows.

(2) For the cross heading to that section substitute “Formerly authorised banks”.

(3) In subsection (1)(1), after “in relation to any person” insert “(other than an authorised deposit taker)”.

(4) After subsection (1) insert—

“(1A) For the purposes of subsection (1), “authorised deposit taker” has the meaning given in section 8(1B).”.

(1)

Subsection (1) was amended by S.I. 2001/3649, article 307.