985(1) In this Part “qualifying certificate of deposit” means a certificate of deposit under which–
(a)the amount payable is at least £50,000, exclusive of interest, and
(b)that amount is payable at a specified time within 5 years beginning with the date on which the deposit is made.
985(2) If an amount is denominated in a foreign currency, subsection (1)(a) has effect as if it referred to an amount which is at least the equivalent in that currency of £50,000 at the time the deposit is made.
985(3) For the meaning of “certificate of deposit” , see section 1019.