Schedule, Part II Persons Exempt in Respect of Accepting Deposits (paras. 16-25)
16. A municipal bank, that is to say a company which was, immediately before the coming into force of this Order, exempted from the prohibition in section 3 of the Banking Act 1987 [1987 c. 22; section 3 was amended by paragraph 3 of Schedule 5 to the Bank of England Act 1998 (c. 11). "Municipal bank" was defined in section 103 of the Banking Act 1987, which was amended by paragraph 22 of Schedule 3 to the Local Government Act 1992 (c. 19) and by paragraph 21 of Schedule 3 to the Local Government and Rating Act 1997 (c. 29).] by virtue of section 4(1) of, and paragraph 4 of Schedule 2 to, that Act.
(1) Keesler Federal Credit Union, in so far as it accepts deposits from members, or dependants of members, of a visiting force of the United States of America, or from members, or dependants of members, of a civilian component of such a force.
(2) In sub-paragraph (1), "member", "dependent" and "visiting force" have the meanings given by section 12 of the Visiting Forces Act 1952 [1952 c. 67; the definition of "visiting force" was amended by paragraph 14 of Schedule 15 to the Criminal Justice Act 1988 (c. 33).] and "member of a civilian component" has the meaning given by section 10 of that Act.
18. A body of persons certified as a school bank by the National Savings Bank or by an authorised person who has permission to accept deposits.