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The Credit Institutions (Protection of Depositors)Regulations 1995
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Meaning of “deposit” in 1987 Act
45.—(1) In subsection (1) of section 5 of the 1987 Act (meaning of “deposit”), after the word “money” in the first place where it occurs, there shall be inserted the words “(whether denominated in a currency or in ecus)”.
(2) After that subsection there shall be inserted the following subsection—
“(1A) In subsection (1) above ‘ecu’ means—
(a)the European currency unit as defined in Article 1 of Council Regulation No. 3320/94/EC(1)
(b)any other unit of account which is defined by reference to the European currency unit as so defined.”
(1)
O.J. L350, 31.12.94, page 1.
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