Banking Act 1987 (repealed)
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Change 1
7 Power to amend definitions.
(1) The Treasury may after consultation with the Authority by order amend the meaning of deposit or deposit-taking business for the purposes of all or any provisions of this Act. (2) Without prejudice to the generality of the power conferred by subsection (1) above, an order under that subsection amending the meaning of deposit-taking business may provide for taking into account as activities of an institution the activities of any person who is connected with it in such manner as is specified in the order. (3) Any order under this section shall be subject to annulment in pursuance of a resolution of either House of Parliament. (4) An order under this section may contain such transitional provisions as the Treasury think necessary or expedient and may exclude or modify the effect of the order on any other enactment which is expressed to have effect in relation to a deposit or a deposit-taking business within the meaning of this Act.
7 Power to amend definitions.
(1) The Treasury may after consultation with the Authority by order amend the meaning of deposit or deposit-taking business for the purposes of all or any provisions of this Act. (2) Without prejudice to the generality of the power conferred by subsection (1) above, an order under that subsection amending the meaning of deposit-taking business may provide for taking into account as activities of an institution the activities of any person who is connected with it in such manner as is specified in the order. (3) Any order under this section shall be subject to annulment in pursuance of a resolution of either House of Parliament. (4) An order under this section may contain such transitional provisions as the Treasury think necessary or expedient and may exclude or modify the effect of the order on any other enactment which is expressed to have effect in relation to a deposit or a deposit-taking business within the meaning of this Act.
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