Source: http://www.legislation.gov.uk/ukpga/2009/1/part/2/crossheading/introduction
Timestamp: 2020-01-19 19:23:35
Document Index: 716049179

Matched Legal Cases: ['art 4', 'art. 3', 'art. 3', 'art 15', 'art. 3', 'art. 3']

90OverviewU.K.
91Interpretation: “bank”U.K.
(1)In this Part “bank” means a UK institution which has permission under [F1Part 4A] of the Financial Services and Markets Act 2000 to carry on the regulated activity of accepting deposits (within the meaning of section 22 of that Act, taken with Schedule 2 and any order under section 22).
(a)a building society within the meaning of section 119 of the Building Societies Act 1986,
(4)An order under subsection (2)(c)—
(5)Section 130 makes provision for the application of this Part to building societies.
(6)Section 131 makes provision for the application of this Part to credit unions.
F1Words in s. 91(1) substituted (1.4.2013) by Financial Services Act 2012 (c. 21), s. 122(3), Sch. 17 para. 30 (with Sch. 20); S.I. 2013/423, art. 3, Sch.
I2S. 91 in force at 17.2.2009 for specified purposes by S.I. 2009/296, arts. 2, 3, Sch. para. 2
I3S. 91 in force at 21.2.2009 in so far as not already in force by S.I. 2009/296, arts. 2, 3, Sch. para. 2
92Interpretation: “the court”U.K.
In this Part “the court” means—
I4S. 92 in force at 21.2.2009 by S.I. 2009/296, art. 3, Sch. para. 2
93Interpretation: other expressionsU.K.
[F2(1)In this Part—
(b)“the FCA” means the Financial Conduct Authority.]
(2)In this Part a reference to “the FSCS” is a reference to—
(a)the Financial Services Compensation Scheme (established under Part 15 of the Financial Services and Markets Act 2000), or
(b)where appropriate, the scheme manager of that Scheme.
(3)In this Part “eligible depositors” means depositors who are eligible for compensation under the FSCS.
(4)For the purposes of a reference in this Part to inability to pay debts—
(a)a 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, and
(b)section 123 of the Insolvency Act 1986 (inability to pay debts) also applies; and
for 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.
(5)Expressions used in this Part and in the Insolvency Act 1986 have the same meaning as in that Act.
(6)Expressions used in this Part and in the Companies Act 2006 have the same meaning as in that Act.
(7)A reference in this Part to action includes a reference to inaction.
(8)The 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).
F2S. 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.
I5S. 93 in force at 21.2.2009 by S.I. 2009/296, art. 3, Sch. para. 2