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Banking Act 1987 (Exempt Transactions) (Amendment) Regulations 2000

As Enacted Cited authorities 5 Cited in Amendments 2 Related
Vincent
JurisdictionUK Non-devolved

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 19871, hereby make the following Regulations:

S-1 Citation and commencement

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.

S-2 Revocation

Revocation

2. Regulation 7 of, and Schedule 1 to, the Banking Act 1987 (Exempt Transactions) Regulations 19972are hereby revoked.

Greg Pope

Bob Ainsworth

Two of the Lords Commissioners of Her Majesty’s Treasury

7th March 2000

(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) 1987 c. 22.
(2) S.I.1997/817, to which there is an amendment not relevant to these Regulations.

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