SCHEDULES

SCHEDULE 2Amendments to the Financial Services and Markets Act 2000

Amendments to Part 24

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1

Section 359 (administration order) is amended as follows.

2

In subsection (3) (persons treated as unable to pay their debts), the “and” at the end of paragraph (a) is omitted and at the end of paragraph (b) there is inserted

, and—

c

an authorised reclaim fund in default on an obligation to pay a sum payable as a result of a claim made by virtue of section 1(2)(b) or 2(2)(b) of the Dormant Bank and Building Society Accounts Act 2008.

3

In subsection (4) (definitions), at the appropriate place there is inserted—

“authorised reclaim fund” means a reclaim fund within the meaning given by section 5(1) of the Dormant Bank and Building Society Accounts Act 2008 that is authorised for the purposes of this Act;