Section 359(3)

Any of the following shall be treated for the purpose of paragraph 11(a) of Schedule B1 to the 1986 Act or paragraph 12(a) of Schedule B1 to the 1989 Order as unable to pay its debts— a company or partnership in default on an obligation to pay a sum due and payable under an agreement, . . . an authorised deposit taker in default on an obligation to pay a sum due and payable in respect of a relevant deposit., and— an authorised reclaim fund in default on an obligation to pay a sum payable as a result of a claim made by virtue of section 1(2)(b) or 2(2)(b) of the Dormant Bank and Building Society Accounts Act 2008.

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Source: legislation.gov.uk · retrieved 2026-09-04