(1) Section 367 (winding-up petitions) has effect as if -

(a) the reference in subsection (1)(a) to a body which has been an authorised person included a reference to a body which -

(i) is not and never has been an authorised person (within the meaning of the Act);

(ii) has been an authorised institution within the meaning of the Banking Act;

(iii) was not, immediately before commencement, authorised under that Act; and

(iv) continues to have any liability in respect of deposits which it accepted when it was authorised under that Act;

(b) the reference in subsection (1)(c) to a body which has carried on a regulated activity in contravention of the general prohibition included a reference to a company or partnership which has, before commencement, contravened section 3 of the Banking Act and which continues to have any liability in respect of deposits which it accepted in contravention of that enactment.