Section 21(2)

Where the institution continues to hold the relevant funds at the end of the business day following the day on which they were received it must— place them in a separate account that it holds with an authorised credit institution or the Bank of England; or invest the relevant funds in secure, liquid, low-risk assets (“relevant assets”) and place those assets in a separate account with an authorised custodian.

← 1 · All articles · 3 →

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