56. Designation of company to be deposit insurance and policy owners’ protection fund agency

Terms defined in s 2

• Agency

  Agency

  Defined · s 2

  “Agency” means the company designated by the Minister under section 56 to be the deposit insurance and policy owners’ protection fund agency;

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• company

  company

  Defined · s 2

  “company” has the meaning given by section 4(1) of the Companies Act 1967;

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• deposit

  deposit

  Defined · s 2

  “deposit” means a sum of money paid on terms —(a) under which it will be repaid, with or without interest or a premium, or with any consideration in money or money’s worth, either on demand or at a time or in circumstances agreed by or on behalf of the person making the payment and the person receiving it; and(b)which are not referable to the provision of property or services;

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• policy

  policy

  Defined · s 2

  “policy” has the meaning given in the First Schedule to the Insurance Act 1966;

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