Banking Act 1987 (repealed)
Banking Act 1987 (repealed) (1987 c. 22)
- Banking Act 1987 (repealed) (1987 c. 22)
- Part I Regulation of Deposit-Taking Business
- The Bank of England and the Board of Banking Supervision
- 1 Functions and duties of the Bank of England.
- 2 The Board of Banking Supervision.
- Restriction on acceptance of deposits
- 3 Restriction on acceptance of deposits.
- 4 Exempted persons and exempted transactions.
- 5 Meaning of “deposit”.
- 6 Meaning of “deposit-taking business”.
- 7 Power to amend definitions.
- Authorisations
- 8 Applications for authorisation.
- 9 Grant and refusal of authorisation.
- 10 Notice of grant or refusal.
- 11 Revocation of authorisation.
- 12 Restriction of authorisation.
- 12A Revocation or restriction on information from supervisory authority.
- 13 Notice of revocation or restriction.
- 14 Mandatory revocation and restriction in cases of urgency.
- 15 Surrender of authorisation.
- 16 Statement of principles.
- 17 Information as to authorised institutions.
- 18 False statements as to authorised status.
- Directions
- 19 Directions to institutions.
- 20 Notification and confirmation of directions.
- Objections to controllers
- 21 Notification of new or increased control.
- 22 Objection to new or increased control.
- 23 Objection by direction of the Treasury.
- 24 Objection to existing shareholder controller.
- 25 Contraventions by controller.
- 26 Restrictions on and sale of shares.
- Appeals
- 27 Rights of appeal.
- 28 Constitution of tribunals.
- 29 Determination of appeals.
- 30 Costs, procedure and evidence.
- 31 Further appeals on points of law.
- Invitations to make deposits
- 32 Advertisement regulations.
- 33 Advertisement directions.
- 34 Unsolicited calls.
- 35 Fraudulent inducement to make a deposit.
- Information
- 36 Notification of change of director, controller or manager.
- 37 Notification of acquisition of significant shareholding.
- 38 Reports of large exposures.
- 39 Power to obtain information and require production of documents.
- 40 Right of entry to obtain information and documents.
- Investigations
- 41 Investigations on behalf of the Authority.
- 42 Investigation of suspected contraventions.
- 43 Powers of entry in cases of suspected contraventions.
- 44 Obstruction of investigations.
- Accounts and auditors
- 45 Audited accounts to be open to inspection.
- 46 Notification in respect of auditors.
- 47 Communication by auditor etc. with the Authority.
- Unauthorised acceptance of deposits
- 48 Repayment of unauthorised deposits.
- 49 Profits from unauthorised deposits.
- Part II The Deposit Protection Scheme
- The Board and the Fund
- 50 The Deposit Protection Board.
- 51 The Deposit Protection Fund.
- Contributions to the Fund
- 52 Contributory institutions and general provisions as to contributions.
- 53 Initial contributions.
- 54 Further contributions.
- 55 Special contributions.
- 56 Maximum and minimum contributions.
- 57 Deposit base of transferee institutions.
- Payments out of the Fund
- 58 Compensation payments to depositors.
- 59 Meaning of insolvency etc.
- 60 Protected deposits.
- 61 Trustee deposits, joint deposits etc.
- 62 Liability of institution in respect of compensation payments.
- Repayments in respect of contributions
- 63 Repayments in respect of contributions.
- Supplementary provisions
- 64 Borrowing powers.
- 65 Power to obtain information.
- 66 Tax treatment of contributions and repayments.
- Part III Banking Names and Descriptions
- 67 Restriction on use of banking names.
- 68 Exemptions from s. 67.
- 69 Restriction on use of banking descriptions.
- 70 Power to object to institution’s names.
- 71 Effect of notices under s. 70 and appeals.
- 72 Registration of substitute corporate name by oversea company.
- 73 Offences under Part III.
- Part IV Overseas Institutions with Representative Offices
- 74 Meaning of “overseas institution” and “representative office”.
- 75 Notice of establishment of representative office.
- 76 Power to object to names of overseas institutions.
- 77 Effect of notices under s. 76 and appeals.
- 78 Registration of substitute corporate name by overseas institution.
- 79 Duty to provide information and documents.
- 79 Duty to provide information and documents.
- 80 Regulations imposing requirements on overseas-based banks.
- 81 Offences under Part IV.
- Part V Restriction on Disclosure of Information
- 82 Restricted information.
- 83 Disclosure for facilitating discharge of functions by the Bank.
- 84 Obstruction of investigations.
- 85 Objection by direction of the Treasury.
- 86 Information supplied to Bank by relevant overseas authority etc.
- 87 Notification of acquisition of significant shareholding.
- Part VI Miscellaneous and Supplementary
- 88 Exclusion of authorised institution’s agreements from Consumer Credit Act 1974.
- 89 Electronic transfer of funds.
- 90 Disclosure of transactions by authorised institutions with chief executives and managers.
- 91 Powers for securing reciprocal facilities for banking and other financial business.1986 c. 60.
- 92 Winding up on petition from the Authority.
- 93 Injunctions.
- 94 False and misleading information.
- 95 Restriction of Rehabilitation of Offenders Act 1974.
- 96 Offences.
- 97 Summary proceedings.
- 98 Offences committed by unincorporated associations.
- 99 Service of notices on the Authority.
- 100 Service of other notices.
- 101 Evidence.
- 102 Powers for securing reciprocal facilities for banking and other financial business.
- 103 Municipal banks.
- 104 Scottish 1819 savings banks.
- 105 Meaning of “director”, “controller”, “manager”, and “associate”.
- 105A Meaning of related company.
- 106 Interpretation.
- 107 Transitional provisions.
- 108 Minor and consequential amendments, repeals and revocations.
- 109 Northern Ireland.
- 110 Short title and commencement.
- SCHEDULES
- SCHEDULE 1 The Board of Banking Supervision
- Terms of office
- Removal from office
- Increase in number of members
- Proceedings
- Facilities, remuneration and allowances
- SCHEDULE 2 Exempted Persons
- . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
- . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
- SCHEDULE 3 Minimum Criteria for Authorisation
- Directors etc. to be fit and proper persons
- Business to be directed by at least two individuals
- Composition of board of directors
- Business to be conducted in prudent manner
- Integrity and skill
- Minimum net assets
- SCHEDULE 4 The Deposit Protection Board
- Constitution
- Expenses
- Proceedings
- Accounts, audit and annual report
- SCHEDULE 5 Transitional Provisions
- First report by Bank of England
- Existing recognised banks and licensed institutions
- Conditional licences
- Applications subject to appeal
- Revocation
- Directions
- Information and investigations
- Members of Deposit Protection Board
- Initial contributions by excluded institutions
- Maximum contributions
- Insolvencies before commencement of Part II
- Borrowing
- Use of banking names
- Restriction on disclosure of information
- SCHEDULE 6 Minor and Consequential Amendments
- The Bankers’ Books Evidence Act 1879
- The Agricultural Credits Act 1928
- The Agricultural Credits (Scotland) Act 1929
- The Tribunals and Inquiries Act 1971
- . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
- The Solicitors Act 1974
- The Home Purchase Assistance and Housing Corporation Guarantee Act 1978
- The Credit Unions Act 1979
- The Crown Agents Act 1979
- . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
- The Solicitors (Scotland) Act 1980
- The British Telecommunications Act 1981
- The Supreme Court Act 1981
- The Housing (Northern Ireland) Order 1981
- The Finance Act 1982
- . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
- The Duchy of Cornwall Management Act 1982
- The County Courts Act 1984
- . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
- The Inheritance Tax Act 1984
- . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
- The Companies Act 1985
- The Trustee Savings Banks Act 1985
- The Bankruptcy (Scotland) Act 1985
- The Housing Act 1985
- The Housing Associations Act 1985
- The Credit Unions (Northern Ireland) Order 1985
- The Finance Act 1986
- . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
- The Insolvency Act 1986
- The Building Societies Act 1986
- The Financial Services Act 1986
- The Companies (Northern Ireland) Order 1986
- SCHEDULE 7 Repeals and Revocations
- Part I Enactments
- Part II Instruments
Feedback