Search Legislation

Advanced Search

The Banking Act 2009 (Parts 2 and 3 Consequential Amendments) Order 2009

Status:

This is the original version (as it was originally made).

Dormant Bank and Building Society Accounts Act 2008

This section has no associated Explanatory Memorandum

7.—(1) This article applies to a reclaim fund established under the Dormant Bank and Building Society Accounts Act 2008(1) if, under sections 1 or 2 of that Act, the balance of a customer’s dormant account is transferred into that reclaim fund from a bank which is a bank within the meaning of section 91 of the 2009 Act.

(2) Where that reclaim fund is unable, or likely to be unable, to satisfy a claim against it, the fact that it ceases to be authorised does not prevent the operation of the Financial Services Compensation Scheme under section 213 of the Financial Services and Markets Act 2000 in respect of it; and for that purpose, the reclaim fund is a relevant person within the meaning of section 213(9), despite the lapse of authorisation.

Back to top

Options/Help

Print Options

Close

Legislation is available in different versions:

Latest Available (revised):The latest available updated version of the legislation incorporating changes made by subsequent legislation and applied by our editorial team. Changes we have not yet applied to the text, can be found in the ‘Changes to Legislation’ area.

Original (As Enacted or Made): The original version of the legislation as it stood when it was enacted or made. No changes have been applied to the text.

Close

Opening Options

Different options to open legislation in order to view more content on screen at once

Close

Explanatory Memorandum

Explanatory Memorandum sets out a brief statement of the purpose of a Statutory Instrument and provides information about its policy objective and policy implications. They aim to make the Statutory Instrument accessible to readers who are not legally qualified and accompany any Statutory Instrument or Draft Statutory Instrument laid before Parliament from June 2004 onwards.

Close

More Resources

Access essential accompanying documents and information for this legislation item from this tab. Dependent on the legislation item being viewed this may include:

  • the original print PDF of the as enacted version that was used for the print copy
  • lists of changes made by and/or affecting this legislation item
  • confers power and blanket amendment details
  • all formats of all associated documents
  • correction slips
  • links to related legislation and further information resources
Close

More Resources

Use this menu to access essential accompanying documents and information for this legislation item. Dependent on the legislation item being viewed this may include:

  • the original print PDF of the as made version that was used for the print copy
  • correction slips

Click 'View More' or select 'More Resources' tab for additional information including:

  • lists of changes made by and/or affecting this legislation item
  • confers power and blanket amendment details
  • all formats of all associated documents
  • links to related legislation and further information resources