The Banking Act 1987 (Exempt Transactions) Regulations 1997

Contents

344 provisions, too many to show on one page. Open a part or section to read it with its history and connections, or search inside the text.

1. 1 · Citation, commencement and interpretation
   1. (1) These Regulations may be cited as the Banking Act 1987 (Exempt Transactions) Regulations 1997, and shall come into force on 3rd April 1997.
   2. (2) In these Regulations, unless the context otherwise requires— • “the Act” means the Banking Act 1987; • “Approved Organisation” means an exchange or associat
2. 2 · Exempt transactions
3. 3 · Charities
   1. (1) The acceptance by a charity of a deposit is an exempt transaction if—
   2. (2) In this regulation “charity” means any institution, trust or undertaking, whether corporate or not, which is established solely for charitable purposes, and
4. 4 · Church deposit funds
   1. (1) The acceptance by the Central Board of Finance of the Church of England of a deposit in the course of administering a deposit fund within the meaning of par
   2. (2) The acceptance by the Central Finance Board of the Methodist Church of a deposit in the course of administering a deposit fund within the meaning of paragra
5. 5 · Industrial and provident societies
6. 6 · Agricultural, forestry and fisheries associations
   1. (1) Without prejudice to regulation 5, the acceptance by an association to which section 33 of the Restrictive Trade Practices Act 1976 applies of a deposit by
   2. (2) The reference in paragraph (1) above to a member of an association to which section 33 of the Restrictive Trade Practices Act 1976 applies includes a refere
7. 7 · Retail and other co-operative societies
   1. (1) Without prejudice to regulation 5, the acceptance by a co-operative society of a deposit is an exempt transaction if the society fulfils the requirements of
   2. (2) The requirements of this paragraph are—
   3. (3) In this regulation—
8. 8 · Solicitors
   1. (1) The acceptance by a practising solicitor in the course of his profession of a deposit is an exempt transaction.
   2. (2) In this regulation “practising solicitor” means a solicitor who is qualified to act as such under section 1 of the Solicitors Act 1974, article 4 of the Sol
9. 9 · Deposits accepted in the course of estate agency work
   1. (1) The acceptance in the course of estate agency work of a deposit which is a pre-contract deposit is an exempt transaction.
   2. (2) In this regulation “estate agency work” has the meaning assigned to it by section 1(1) of the Estate Agents Act 1979, and “pre-contract deposit” has the mea
10. 10 · Certain public undertakings
    1. (1) Subject to paragraph (2) below, the acceptance by a body listed in Schedule 2 to these Regulations of a deposit made by another such body is an exempt trans
    2. (2) Paragraph (1) above shall apply to a successor only so long as each of its issued shares is held by, or by a nominee of, the Treasury or the Secretary of St
11. 11 · Student Loans Company Limited
    1. (1) The acceptance by Student Loans Company Limited of a deposit made by a government department is an exempt transaction if the deposit is accepted in furthera
    2. (2) In this regulation “eligible students” has the meaning ascribed to it by sections 1(2) of the Education (Student Loans) Act 1990 or, as the case may be, Art
12. 12 · The National Children’s Charities Fund
13. 13 · Relevant debt securities
    1. (1) The acceptance of a deposit by a person (not being a body to which regulation 10(1) above applies) on terms involving the issue of commercial paper is an ex
    2. (2) The requirements to be met under this paragraph are—
    3. (3) The acceptance of a deposit by a person (not being a body to which regulation 10(1) above applies) on terms involving the issue of shorter term or longer te
    4. (4) The requirements to be met under this paragraph are—
    5. (5) The references in this regulation to debt securities which have been the subject of an application for admission to trading on the Stock Exchange, to the Of
    6. (6) The references in this regulation to shares or debt securities admitted to trading on the Stock Exchange or to the Official List, to trading or official lis
    7. (7) For the purposes of this regulation a company has adequate net assets if its net assets were shown in its last audited individual or group accounts (as the
    8. (8) Where different issues of shares or debt securities of a company have been admitted to listing on an EEA Exchange, the obligations in paragraphs (2)(b) and
    9. (9) Where more than one of the sub-paragraphs in paragraph (2) or (4) above applies in relation to the acceptance of a deposit involving the issue of relevant d
    10. (10) Where a recognised European document has been submitted to the competent authority for the purposes of Part IV of the Financial Services Act 1986 pursuant
    11. (11) In paragraph (4)(e)(iii) above “the relevant rules” has the meaning given in regulation 14(9)(b) below.
14. 14 · Requirements applying to relevant debt securities
    1. (1) Where a relevant debt security issued in relation to the acceptance of a deposit is intended to be an exempt transaction under regulation 13(1) or (3) above
    2. (2) The person accepting a deposit on terms involving the issue of a relevant debt security intended to be an exempt transaction under regulation 13(1) or (3) a
    3. (3) Where the acceptance of a deposit intended to be an exempt transaction under regulation 13(3) above will involve the issue as part of a programme of shorter
    4. (4) If any relevant information of a supplementary nature as described in paragraph (3) above other than a pricing supplement becomes available after debt secur
    5. (5) Any selling document prepared in connection with the issue of a relevant debt security in relation to the acceptance of a deposit intended to be an exempt t
    6. (6) Any selling document prepared in connection with the issue of shorter term or longer term debt securities not as part of a programme in relation to the acce
    7. (7) Any selling document prepared in connection with the issue of shorter term or longer term debt securities as part of a programme in relation to the acceptan
    8. (8) Any selling document prepared in connection with the issue of shorter term or longer term debt securities in relation to the acceptance of a deposit intende
    9. (9) In paragraphs (6) and (7) above “the relevant rules” means—
    10. (10) As provided in article 15 of the Financial Services Act 1986 (Investment Advertisements) (Exemptions) (No. 2) Order 1995, the Stock Exchange is authorised
15. 15 · Authorised and exempted persons under the Financial Services Act 1986 and European investment firms
    1. (1) Subject to paragraphs (2) and (3) below, the acceptance of a deposit by a person who is an authorised person under the Financial Services Act 1986, a Europe
    2. (2) Paragraph (1) above applies to an authorised person only if the activity is one in which he may engage without contravening any rules (made by the appropria
    3. (3) Paragraph (1) above applies to a European investment firm only if the activity is one in which it may engage without contravening any prohibition of the kin
    4. (4) Paragraph (1) above applies to an exempted person only if the activity is one in respect of which he is exempt under the Financial Services Act 1986.
    5. (5) In this regulation—
16. 16 · Revocation
17. Schedule 1 · Deed establishing the co-operative deposit protection scheme
    1. (1) NOW THIS DEED WITNESSETH AND IT IS HEREBY DECLARED as follows:
    2. (2) NOW THIS DEED WITNESSETH AND IT IS HEREBY DECLARED as follows:
    3. (3) NOW THIS DEED WITNESSETH AND IT IS HEREBY DECLARED as follows:
    4. (4) NOW THIS DEED WITNESSETH AND IT IS HEREBY DECLARED as follows:
    5. (5) NOW THIS DEED WITNESSETH AND IT IS HEREBY DECLARED as follows:
    6. (6) NOW THIS DEED WITNESSETH AND IT IS HEREBY DECLARED as follows:
    7. (7) NOW THIS DEED WITNESSETH AND IT IS HEREBY DECLARED as follows:
    8. (8) NOW THIS DEED WITNESSETH AND IT IS HEREBY DECLARED as follows:
    9. (9) NOW THIS DEED WITNESSETH AND IT IS HEREBY DECLARED as follows:
    10. (10) NOW THIS DEED WITNESSETH AND IT IS HEREBY DECLARED as follows:
    11. (11) NOW THIS DEED WITNESSETH AND IT IS HEREBY DECLARED as follows:
    12. (12) NOW THIS DEED WITNESSETH AND IT IS HEREBY DECLARED as follows:
    13. (13) NOW THIS DEED WITNESSETH AND IT IS HEREBY DECLARED as follows:
    14. (14) NOW THIS DEED WITNESSETH AND IT IS HEREBY DECLARED as follows:
    15. (15) NOW THIS DEED WITNESSETH AND IT IS HEREBY DECLARED as follows:
18. Schedule 2 · Bodies referred to in regulation 10
19. THE FIRST SCHEDULE before referred to
20. THE SECOND SCHEDULE before referred to · Procedure in relation to Expulsion under Clause 15
    1. (1) Not less than 28 days before giving an Expulsion Notice...
    2. (2) The Board shall consider any representations with respect to the...
    3. (3) (i) On giving an Expulsion Notice the Board shall serve...
    4. (4) A copy Notice under this Schedule may be served on...
    5. (5) Failure to serve a copy Notice under this Schedule on...
21. THE THIRD SCHEDULE before referred to · Co-operative deposit protection scheme code of practice
    1. (1) Introduction
    2. (2) Introduction
    3. (3) Introduction
    4. (4) Introduction
    5. (5) Introduction
    6. Part a Conduct of deposit taking and investment business
    7. Part b Advertising of interest bearing deposits