INTRODUCTION

1  This Part of this Schedule contains provision about the collection of amounts due and payable to the Commissioners by the making of deductions from accounts held with deposit-takers.

“RELEVANT SUM”

Related Commentary  

2(1)  In this Part of this Schedule “relevant sum”, in relation to a person, means a sum that is due and payable by the person to the Commissioners–

(a)under or by virtue of an enactment, or

(b)under a contract settlement,

and in relation to which Conditions A to C are met.

2(2)  Condition A is that the sum is at least £1,000.

2(3)  Condition B is that the sum is–

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