Duchy of Cornwall Management Act 1982
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Change 1
6 Banking.
(1) One or more bank accounts may be opened and kept with the Bank of England in the name of the Duchy, in addition to any bank account so kept at the passing of this Act. (2) One or more bank accounts may also be opened in the name of the Duchy with any deposit taker. (3) In the Duchy of Cornwall Management Acts 1863 to 1868— (a) any provision relating to the bank account of the Duke of Cornwall or the Duchy of Cornwall with the Bank of England shall be construed as relating also to any bank account authorised under this section; (b) any provision requiring payment into the Bank of England shall be construed as requiring payment into that Bank or a deposit taker; and (c) any other provision relating to payment into the Bank of England and any provision relating to payment out of that Bank shall be construed as relating also to payment into or out of a deposit taker (4) In this section “deposit taker” means— (a) a person who has permission under Part 4 of the Financial Services and Markets Act 2000 to accept deposits; or (b) an EEA firm of the kind mentioned in paragraph 5(b) of Schedule 3 to that Act, which has permission under paragraph 15 of that Schedule (as a result of qualifying for authorisation under paragraph 12(1) of that Schedule) to accept deposits. (5) Subsection (4) must be read with— (a) section 22 of the Financial Services and Markets Act 2000; (b) any relevant order under that Schedule; and (c) Schedule 2 to that Act.
6 Banking.
(1) One or more bank accounts may be opened and kept with the Bank of England in the name of the Duchy, in addition to any bank account so kept at the passing of this Act. (2) One or more bank accounts may also be opened in the name of the Duchy with any deposit taker. (3) In the Duchy of Cornwall Management Acts 1863 to 1868— (a) any provision relating to the bank account of the Duke of Cornwall or the Duchy of Cornwall with the Bank of England shall be construed as relating also to any bank account authorised under this section; (b) any provision requiring payment into the Bank of England shall be construed as requiring payment into that Bank or a deposit taker; and (c) any other provision relating to payment into the Bank of England and any provision relating to payment out of that Bank shall be construed as relating also to payment into or out of a deposit taker (4) In this section “deposit taker” means— (a) a person who has permission under Part 4 of the Financial Services and Markets Act 2000 to accept deposits; or (b) an EEA firm of the kind mentioned in paragraph 5(b) of Schedule 3 to that Act, which has permission under paragraph 15 of that Schedule (as a result of qualifying for authorisation under paragraph 12(1) of that Schedule) to accept deposits. (5) Subsection (4) must be read with— (a) section 22 of the Financial Services and Markets Act 2000; (b) any relevant order under that Schedule; and (c) Schedule 2 to that Act.
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