Section 30ZA(5)

In this regulation— “insolvency date” in respect of an insolvent bank means the date on which a bank insolvency order is made in relation to the bank under section 94 (the order) of the Banking Act 2009. “insolvent bank” means either— a bank as defined in section 2 (interpretation: “bank”) of the Banking Act 2009 that has entered into the procedure in Part 2 of that Act; or a building society as defined in section 119 (interpretation) of the Building Societies Act 1986 that has entered into the procedure in Part 2 of the Banking Act 2009, as applied and modified by section 90C (application of bank insolvency and administration legislation to building societies) of the Building Societies Act 1986; “insolvent bank customer” means any customer— which the credit institution is reasonably satisfied was a customer of an insolvent bank at the insolvency date in respect of that insolvent bank; and with whom the credit institution begins to establish a business relationship within the period of 30 days beginning with the insolvency date in respect of that insolvent bank.

← 4 · All articles · 30A →

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