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Version status: Repealed | Document consolidation status: Updated to reflect all known changes
Version date: 1 September 1971 - onwards
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42. Obligation to make deposit in the High Court.

Repealed from 1 September 1971

(1) During the period of three years beginning on the 1st day of January next after the passing of this Act it shall not be lawful for any person to hold himself out as a banker unless he has deposited and keeps deposited in the High Court in accordance with this Part of this Act the sum of ten thousand pounds or, in the case of a person to whom an order under sub-section (3) of this section relates, the sum mentioned in such order.

(2) From and after the expiration of the period of three years mentioned in the foregoing sub-section of this section it shall not be lawful for any person to hold himself out as a banker unless he has deposited and keeps deposited in the High Court in accordance with this Part of this Act the sum of twenty thousand pounds or, in the case of a person to whom an order under sub-section (3) of this section relates, the sum mentioned in such order.

(3) The Minister, where satisfied that special considerations so warrant, may by order permit a person holdi

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