Statutory Instruments
BANKS AND BANKING
Made
14th January 1991
Laid before Parliament
15th January 1991
Coming into force
5th February 1991
The Treasury, in exercise of the powers conferred on them by section 4(4),(5) and (6) of the Banking Act 1987(1) and of all other powers enabling them in that behalf, hereby make the following Regulations:
1. These Regulations may be cited as the Banking Act 1987 (Exempt Transactions) (Amendment) Regulations 1991 and shall come into force on 5th February 1991.
2. Regulation 13 of the Banking Act 1987 (Exempt Transactions) Regulations 1988(2) shall be amended by substituting for the words “(not being a body listed in Schedule 2 to these Regulations)” the words “(not being a body to which regulation 10(1) of these Regulation applies)”.
Irvine Patnick
Sydney Chapman
Two of the Lords Commissioners of Her Majesty’s Treasury
14th January 1991
(This note is not part of the Regulations)
These Regulations amend the Banking Act 1987 (Exempt Transactions) Regulations 1988. They amend regulation 13 (which relates to commercial paper and medium term notes) by replacing the reference to the exclusion of bodies listed in Schedule 2 (certain public undertakings) with a reference to the exclusion of bodies to which regulation 10(1) applies.