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Banking Act 1979

From Wikipedia, the free encyclopedia

Banking Act 1979
Act of Parliament
Parliament of the United Kingdom
Long titleAn Act to regulate the acceptance of deposits in the course of a business; to confer functions on the Bank of England with respect to the control of institutions carrying on deposit-taking businesses; to give further protection to persons who are depositors with such institutions; to make provision with respect to advertisements inviting the making of deposits; to restrict the use of names and descriptions associated with banks and banking; to prohibit fraudulent inducement to make a deposit; to amend the Consumer Credit Act 1974 and the law with respect to instruments to which section 4 of the Cheques Act 1957 applies; to repeal certain enactments relating to banks and banking; and for purposes connected therewith.
Citation1979 c. 37
Introduced byNigel Lawson
Territorial extent United Kingdom
Dates
Royal assent4 April 1979
Commencement1 October 1979
Repealed15 July 1987
Other legislation
Repeals/revokes
  • Protection of Depositors Act 1963
  • Protection of Depositors Act (Northern Ireland) 1964
Repealed byBanking Act 1987 s108(2)
Status: Repealed
Text of statute as originally enacted
Revised text of statute as amended

The Banking Act 1979 (c. 37) was an act of the Parliament of the United Kingdom enacted in the wake of the secondary banking crisis of 1973–1975 to extend the Bank of England's regulatory powers over lenders (banks) and to provide protections for their depositors.[1]

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Transcription

See also

References

  1. ^ "Banking Act 1979". The National Archives (UK). Retrieved 3 September 2012.


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This page was last edited on 4 February 2024, at 16:57
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