The Banking Act 1987 (Exempt Transactions) (Amendment) Regulations 2000
These Regulations revoke regulation 7 of, and Schedule 1 to, the Banking Act 1987 (Exempt Transactions) Regulations 1997. The effect is that the acceptance of deposits by certain retail and other co-operative societies is no longer exempt from the prohibition on the acceptance of deposits in section 3 of the Banking Act 1987 by virtue of the society’s participation in the Co-operative Deposit Protection Scheme.