CREDIT LIMITS
- Keep deposits within your credit limit
UK Statutory Instrument
1997
United Kingdom
The Banking Act 1987 (Exempt Transactions) Regulations 1997
At a glance
What's here
3 compliance obligations
What this Act requires
Sections that create concrete duties on businesses or carry penalties. Procedural and definitional sections are folded into the “Browse other sections” expander at the bottom of each group. Click any section title to read the source text on legislation.gov.uk.
Schedules
Browse 62 other Schedules — structural / supplementary
NOW THIS DEED WITNESSETH AND IT IS HEREBY DECLARED as follows:
(1) Any Participating Society may apply to leave the Scheme...
(1) The Scheme shall continue in force, unless earlier terminated,...
(1) Upon termination of the Scheme and in any event...
(1) All monies in the Fund shall be held by...
(1) The Bank may act as bankers to this Scheme...
(1) This clause applies where the Board consider that a...
(1) Subject to sub-paragraphs (2) and (3) below, in this...
(1) The Union and the Bank hereby agree and declare...
(1) The Fund shall consist of: (a) joining and supplementary...
(1) Societies which are or are seeking to be Participating...
(1) A Participating Society shall for the purpose of this...
(1) For the purposes of clauses 6 and 8 hereof...
(1) Where a Society has become insolvent or is by...
It is the duty of the Union to maintain the...
NOTE
Not less than 28 days before giving an Expulsion Notice...
The Board shall consider any representations with respect to the...
(i) On giving an Expulsion Notice the Board shall serve...
A copy Notice under this Schedule may be served on...
Failure to serve a copy Notice under this Schedule on...
Participating Societies should issue to their members and customers, if...
Participating Societies will not close the accounts of any members...
INTEREST
Participating Societies will tell members and customers the interest rates...
When Participating Societies change interest rates with immediate effect they...
CONFIDENTIALITY
Participating Societies will not use exception (iii) above to justify...
Participating Societies will at all times comply with the Data...
MARKETING OF SERVICES
Participating Societies will give new members and customers at the...
BACKGROUND
PREFACE TO THE CODE
INTRODUCTION
The Code is written to promote good practice in the...
Participating Societies will remind members and customers from time to...
Participating Societies will not use direct mail indiscriminately and in...
Participating Societies in their advertising and promotional material will tell...
Participating Societies will act responsibly and prudently in marketing their...
CORPORATE GOVERNANCE—CODE OF BEST PRACTICE
GENERAL
Advertisements must comply with the spirit and letter of this...
Advertisements must state that in the event of the offering...
Advertisers of interest bearing deposits must take special care to...
The Code is in two parts— Part A—This Part relates...
The registered or business name (and, in the case of...
INTEREST RATES
It follows from paragraph 31 that all advertisements in which...
Advertisements quoting a rate of interest must contain a specific...
Advertisements quoting a rate of interest which are intended for...
The explanatory phrases and statements required by this Code must...
NOTICE OF RATES
TERMS AND CONDITIONS
Advertisements which invite deposits by immediate coupon response must—
The governing principles of the Code are:
The Code requires Participating Societies to provide certain information to...
OPENING AN ACCOUNT
Participating Societies will provide to prospective investors details of the...
TERMS AND CONDITIONS
Participating Societies will tell members and customers how any variation...
SUPPLEMENT TO THE CODE
RULES FOR CALCULATION OF COMPOUNDED ANNUAL RATES
NOW THIS DEED WITNESSETH AND IT IS HEREBY DECLARED as follows:
- Notify depositors and advertise when leaving the deposit protection scheme
GENERAL
- Ensure your interest-bearing deposit advertisements comply with the Code and protect consumers
Browse 20 other sections — procedural / definitional / commencement
Citation, commencement and interpretation
GENERAL
Exempt transactions
Paragraphs 31(b) and 32 of the Code refer to the...
Charities
USE OF FORMULA
Church deposit funds
ASSUMPTIONS FOR CALCULATIONS
Industrial and provident societies
Agricultural, forestry and fisheries associations
Retail and other co-operative societies
Solicitors
Deposits accepted in the course of estate agency work
Certain public undertakings
Student Loans Company Limited
The National Children’s Charities Fund
Relevant debt securities
Requirements applying to relevant debt securities
Authorised and exempted persons under the Financial Services Act 1986 and European investment firms
Revocation
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