HL Deb 27 March 1980 vol 407 c1165

233 After Clause 52, insert the following new clause:

"Continued application of provisions of Protection of Depositors Act 1963.

.—(1) The repeal by the Banking Act 1979 (the "1979 Act") of the Protection of Depositors Act 1963 (the "1963 Act") shall not affect, and shall be deemed never to have affected, the application of the following provisions of the 1963 Act to unexempted companies on and after the commencement of Parts I and III of the 1979 Act, that is to say—

  1. (a) sections 6 to 17; and
  2. (b) so far as relevant to the operation of those sections, sections 5 and 22 to 27.

(2) In this section "unexempted company" means any company within the meaning of the 1963 Act which is not excepted by section 2(1) of the 1979 Act from the prohibition on the acceptance of deposits imposed by section I of the latter Act".


My Lords, I beg to move that this House doth agree with the Commons in their Amemndent No. 233.

Moved, That this House doth agree with the Commons in the said Amendment. —(Lord Lyell.)