(1) A scheme is a banking business transfer scheme if it -
(a) satisfies one of the conditions set out in subsection (2);
(b) is one under which the whole or part of the business to be transferred includes the accepting of deposits; and
(c) is not an excluded scheme or a ring-fencing transfer scheme.
(2) The conditions are that -
(a) the whole or part of the business carried on by a UK authorised person who has permission to accept deposits ("the transferor concerned") is to be transferred to another body ("the transferee");
(b) the whole or part of the business carried on in the United Kingdom by an authorised person who is not a UK authorised person but who has permission to accept deposits ("the transferor concerned") is to be transferred to another body which will carry it on in the United Kingdom ("the transferee").
(3) A scheme is an excluded scheme for the purposes of this section if -
(a) the transferor concerned is a building society or a credit union; or
(b) the scheme is a c
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