Section 854: Power to prescribe persons as deposit-takers
2585.This section provides that the Treasury may make orders prescribing persons or a member of a class of persons receiving deposits in the course of business or activities to be treated as a deposit-taker. It is based on sections 481(2)(f) and 482(10) of ICTA.
2586.The following Statutory Instruments made under section 481(2)(f) of ICTA are spent or obsolete and are revoked (see Schedule 3 to this Act):
the Income Tax (Prescribed Deposit-takers) (No 1) Order 1984 (SI 1984/1801), which included the British Railways Board in the definition of deposit-taker; and
the Income Tax (Composite Rate) (Prescribed Deposit-takers) Order 1985 (SI 1985/1696), which listed various local authorities as being included in the definition of deposit-taker. The bodies referred to in this Order (and which are still in existence) are covered in the definition of “local authority” in section 999. As local authorities are already included in section 853(4), this Order is obsolete.