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PROTECTION OF DEPOSITORS ACT (NORTHERN IRELAND) 1964

PROTECTION OF DEPOSITORS ACT (NORTHERN IRELAND) 1964 - LONG TITLE

An Act to penalise fraudulent inducements to invest on deposit; to
restrict and regulate the issue of advertisements for deposits; to
make special provision with respect to the accounts to be delivered
by and the supervision of companies which issue such advertisements;
to amend section 12 of the Prevention of Fraud (Investments) Act
(Northern Ireland) 1940; and for purposes connected with those
matters.{1}
[7th July 1964]

PROTECTION OF DEPOSITORS ACT (NORTHERN IRELAND) 1964 - SECT 1

1.(1) Any person who, by any statement, promise or forecast which
he knows to be misleading, false or deceptive, or by any dishonest
concealment of material facts, or by the reckless making (dishonestly
or otherwise) of any statement, promise or forecast which is
misleading, false or deceptive, induces or attempts to induce another
person

(a)to invest money on deposit with him or with any other person;
or

(b)to enter into or offer to enter into any agreement for that
purpose;

Subs.(2) repeals in part s.12 of 1940 c.9 (NI)

PROTECTION OF DEPOSITORS ACT (NORTHERN IRELAND) 1964 - SECT 2
General restriction of advertisements for deposits.

2.(1) Subject to subsections (2) to (6), no person shall, after the
commencement of this Act, issue any advertisement inviting the public
to deposit money with him.

(2) This section does not apply to any advertisement with respect
to investments of any description falling within Schedule 1 to the
Trustee Investments Act 1961, nor to any advertisement with respect
to deposits of any description to be made with any banking or
discount company ..., or with any building society, friendly society
or industrial and provident society [or trustee savings bank] [or
the Post Office].

(3) This section does not apply to any advertisement with respect
to deposits to be made with a company incorporated in, or having
an established place of business in, Northern Ireland, if the
advertisement complies with regulations made by the Ministry of
Commerce (in this Act referred to as "the Ministry") under section
3(1)(a) and any accounts required by this Act to be delivered by
the company before the issue of the advertisement are duly
delivered.

(4) This section does not apply

(a)to an advertisement with respect to deposits of any such class
as may be prescribed by regulations made by the Ministry under
section 3(1)(b); or

(b)to any advertisement (not being an advertisement with respect to
deposits to be made with any such company as is mentioned in
sub-section (3)) which is issued with the permission in writing of
the Ministry;

(5) Any person who issues an advertisement in contravention of this
section shall, subject to sub-section (6), be guilty of an offence
and liable

(a)on conviction on indictment, to imprisonment for a term not
exceeding two years or to a fine, or to both;

(b)on summary conviction, to imprisonment for a term not exceeding
three months or to a fine not exceeding two hundred pounds, or to
both.

(6) A person who in the ordinary course of his business issues an
advertisement to the order of another person, being an advertisement
the issue of which by that other person constitutes an offence
under this section, shall not himself be guilty of the offence if
he proves that the matters contained in the advertisement were not
(wholly or in part) devised or selected by him or by any person
under his direction or control.

PROTECTION OF DEPOSITORS ACT (NORTHERN IRELAND) 1964 - SECT 3
Regulations of Ministry as to advertisements.

3.(1) The Ministry may make regulations

(a)for prescribing the matters which must or must not be included
in any advertisement which is to qualify for exemption under
sub-section (3) of section 2, and generally for regulating the form
of such advertisements;

(b)for exempting from that section advertisements with respect to
deposits of such classes as may be prescribed by the regulations
subject to such conditions, if any, as may be so prescribed.

(2) Regulations under subsection (1) shall be subject to negative
resolution.

PROTECTION OF DEPOSITORS ACT (NORTHERN IRELAND) 1964 - SECT 4
Status of private companies which advertise for deposits.

4. If an advertisement for deposits is issued after the commencement
of this Act by a private company, the company shall, so long as
the provisions of this Act as to periodical accounts apply to the
company, be deemed not to be a private company for the purposes of
the following provisions of the Companies Act (Northern Ireland)
1960, that is to say:

(a)section 31, section 210(d) and section 212(1)(a) (several liability
of members, power of the court to wind up, and power of
contributories to petition for winding up, on reduction of number of
members below the statutory minimum);

[(b)section 122 (documents to be annexed to annual return);]

<[(c)section 155(2)(b) (persons qualified as auditors);]

(d)section 167 (number of directors); and

<[(e)section 181(1) (prohibition of loans to directors).]

Accounts required before advertising.

PROTECTION OF DEPOSITORS ACT (NORTHERN IRELAND) 1964 - SECT 5

5.(1) Before any advertisement for deposits is issued by any company
after the appointed day, the company shall deliver to the Registrar
and the Ministry accounts complying with the requirements of this
section.

(2) The accounts required under this section in connection with an
advertisement for deposits are

(a)in every case, audited accounts comprising

(i)a balance sheet dated not more than fifteen months before the
date on which the advertisement is issued; and

(ii)a profit and loss account for the period between the date of
that balance sheet and that of the last relevant balance sheet
which was dated not less than six months before that date; and

(b)where the date of the balance sheet comprised in the accounts
delivered for the purpose of paragraph (a) is more than nine months
before the date on which the advertisement is issued, interim
accounts comprising

(i)a balance sheet dated not less than six months after the date
of the first-mentioned balance sheet; and

(ii)a profit and loss account for the period between the dates of
those balance sheets.

(3) In this section "relevant balance sheet" means a balance sheet
comprised in accounts delivered by the company for the purposes of
any provision of this Act requiring the delivery of audited accounts
or, where no such balance sheet has been so delivered, an audited
balance sheet laid before the company in general meeting.

(4) Within fourteen days after the first occasion after the
appointed day on which an advertisement for deposits is issued by a
company which has delivered the accounts required by this section,
the company shall deliver to the Registrar and the Ministry a
notice specifying the date on which the advertisement was issued.

PROTECTION OF DEPOSITORS ACT (NORTHERN IRELAND) 1964 - SECT 6
Periodical accounts after advertising.

6.(1) Every company which issues an advertisement for deposits after
the appointed day shall from time to time (unless and until this
section ceases to apply to the company under the following
provisions of this Act) deliver to the Registrar and the Ministry
accounts complying with the requirements of this section.

(2) The accounts required to be delivered by a company to which
this section applies are

(a)audited accounts, each comprising

(i)a balance sheet dated twelve months after the date of the
balance sheet last delivered by the company for the purposes of any
provision of this Act requiring the delivery of audited accounts;
and

(ii)a profit and loss account for the period between the dates of
those balance sheets; and

(b)interim accounts, each comprising

(i)a balance sheet dated six months after the date of the balance
sheet last delivered as aforesaid; and

(ii)a profit and loss account for the period between the dates of
those balance sheets;

(3) Where this section applies to a company by virtue of the issue
of an advertisement for deposits but no accounts complying with
section 5 have been delivered by the company, the dates of the
balance sheets to be comprised in the first accounts required by
paragraph (a) and paragraph (b) of subsection (2) respectively, the
periods for which the profit and loss accounts comprised in those
accounts are to be made up, and the times within which those
accounts are to be delivered, shall be such as the Ministry may
direct.

(4) For the purposes of this section a balance sheet shall be
treated as dated in accordance with paragraph (a) or paragraph (b)
of subsection (2) if dated within seven days before or after the
date prescribed by that paragraph.

(5) The delivery of any accounts pursuant to this section shall, so
far as those accounts comply with the requirements of section 5 in
respect of any advertisement for deposits thereafter issued by the
company, or would so comply if the balance sheet comprised therein
were dated as required by this section apart from subsection (4),
be sufficient compliance with section 5 in relation to that
advertisement.

PROTECTION OF DEPOSITORS ACT (NORTHERN IRELAND) 1964 - SECT 7
Termination of requirements as to periodical accounts.

7.(1) If, throughout any period of fifteen months, a company to
which section 6 applies has issued no advertisement for deposits and
has retained no money deposited with the company, the company may
deliver a notice to that effect to the Registrar and the Ministry;
and thereupon section 6 shall cease to apply to the company.

(2) Without prejudice to subsection (1), a company to which section
6 applies may at any time deliver to the Registrar and the
Ministry a notice stating that the issue of advertisements for
deposits will be discontinued as from the delivery notice; and if
no such advertisement is issued by the company during the period of
three years after the date of delivery of the notice, section 6
shall cease to apply to the company at the expiration of that
period or, if the company then retains any deposit which

(a)was made before the delivery of the notice; and

(b)has not become repayable within the said period;

(3) Where a notice is delivered by a company under subsection (2),
it shall be the duty of the company to give notice in writing to
that effect (including a statement of the effect of that subsection)

(a)within six months after the delivery of the first-mentioned
notice, to all persons appearing to the company to be persons who
then were and have not ceased to be depositors with the company;
and

(b)before accepting, at any time within the period of three years
mentioned in subsection (2), a deposit from any person to whom
notice under this subsection has not already been given, to that
person;

(4) Nothing in this section shall affect the application of section
6 to any company which, after that section has ceased to apply by
virtue of this section, issues a further advertisement for deposits;
and in relation to the first such advertisement issued by such a
company

(a)the reference in section 5 to the last relevant balance sheet
shall be construed as a reference to the audited balance sheet last
delivered under section 6(2)(a), or last laid before the company in
general meeting, whichever is the later; and

(b)subsection (4) of section 5 shall apply as if no advertisement
for deposits had previously been issued by the company.

(5) For the purposes of this section a deposit shall be deemed to
have become repayable on the earliest date on which the depositor
could have called for repayment if he had exercised all options or
rights available to him.

(6) Any notice required to be given to any person under subsection
(3) shall be deemed to have been given to that person if sent to
him by post at his last known address.

PROTECTION OF DEPOSITORS ACT (NORTHERN IRELAND) 1964 - SECT 8
Relaxation of requirements as to periodical accounts.

8.(1) If it appears to the Ministry, on application made by any
company, that by reason of any of the following circumstances, that
is to say:

(a)any scheme of reconstruction or amalgamation to which the company
has been party;

(b)any alteration of the company's financial year effected for the
purpose of complying with the requirements of section 147 of the
Companies Act (Northern Ireland) 1960 as to the financial years of
holding companies and their subsidiaries;

(c)any requirements of the law of, or any exceptional circumstances
existing or arising in, any country outside Northern Ireland in
which the company carries on business; or

(d)any other exceptional circumstances affecting the production or
audit of the company's accounts;

(2) Where an order made under subsection (1) in the case of any
company extends the period allowed by section 6 for delivering any
such audited accounts or interim accounts as are described in
paragraph (a) and paragraph (b) respectively of section 6(2), then,
unless the order includes a direction that this subsection is not
to apply in relation to that order, section 5(1) shall not apply
to the company in respect of any advertisement issued during the
extended period allowed by the order for delivering those accounts.

S.9 spent

Special provisions as to newly incorporated companies.

PROTECTION OF DEPOSITORS ACT (NORTHERN IRELAND) 1964 - SECT 10

10.(1) Section 5(1) shall not apply in relation to any advertisement
for deposits issued by a company within nine months after the date
of its incorporation if, before the date when that advertisement is
issued

(a)there has been delivered to the Registrar a prospectus or
statement in lieu of prospectus complying with the requirements of
the Companies Act (Northern Ireland) 1960 or, in the case of a
company which is not required by that Act to deliver such a
prospectus or statement, a document complying with the requirements
of section 48 of that Act with respect to the form and contents
of, and the reports to be set out in, such a statement; and

(b)a copy of that prospectus, statement or document has been
delivered to the Ministry.

Subs.(2) spent

(3) Where an advertisement for deposits is or has been issued by a
company within nine months after the date of its incorporation, and
the requirements of section 5 (or of that section as applied by
section 9(2)) with respect to the delivery of accounts have not
been complied with in respect of that or any other advertisement
issued by the company, the company shall

(a)in any case, deliver to the Registrar and the Ministry before
the end of those nine months audited accounts comprising a balance
sheet dated six months after the date of its incorporation, and a
profit and loss account for those six months; and

(b)except where section 9 applies to the company, deliver to the
Registrar and the Ministry, within fourteen days after the first
occasion after the appointed day on which an advertisement for
deposits is issued by the company, the like notice as is required
by section 5(4) in the case of a company which has delivered the
accounts required by that section.

(4) In any case where accounts are required to be delivered by a
company under section 5 before an audited balance sheet has been
delivered by the company under this Act or laid before the company
in general meeting, the profit and loss account required by
subsection (2)(a) of that section shall be an account for the
period (not being less than six months) between the date of the
balance sheet to be delivered thereunder and the date of the
incorporation of the company.

PROTECTION OF DEPOSITORS ACT (NORTHERN IRELAND) 1964 - SECT 11
Accounts to be supplied to depositors.

11.(1) Subject to subsection (3), every company to which section 6
applies or to which that section has applied at any time during
the previous six months shall, on receiving a deposit from any
person, furnish him without charge with

(a)a copy of the last audited accounts delivered by the company
under this Act and of any other accounts so delivered by the
company since the delivery of those audited accounts; or

(b)if no such accounts have been so delivered, a copy of any
prospectus, statement in lieu of prospectus or other document of
which a copy has been delivered to the Ministry for the purposes
of section 10(1).

(2) Subject to subsection (3), any such company as aforesaid shall
furnish a copy of the accounts or other document mentioned in
subsection (1) on demand and without charge to any depositor with
the company and to any other person who signifies to the company
that he requires a copy of the accounts or document with a view
to becoming a depositor with the company.

(3) A company shall not be required to furnish a copy of any
accounts or other document under this section to any person to whom
a copy of the accounts or document in question has already been
furnished by the company and, without prejudice to the foregoing
provision, a company shall not be required to furnish a copy of
any accounts or other document

(a)under subsection (1), on receiving a deposit from a person who
is already a depositor with the company; or

(b)under subsection (2), to any person (not being a depositor with
the company) to whom the company gives notice that it is unwilling
to receive a deposit.

PROTECTION OF DEPOSITORS ACT (NORTHERN IRELAND) 1964 - SECT 12
Change of business.

12.(1) Subject to the provisions of this section, if any company to
which section 6 applies, having issued after the commencement of
this Act an advertisement for deposits describing the business or
any particular business carried on or proposed to be carried on by
the company, thereafter carries on any business not described in
that advertisement and not being a business of the same character
as a business so described, any deposit to which this section
applies shall, notwithstanding anything to the contrary in the terms
on which it was made, be repayable on demand.

(2) Within fourteen days after a deposit made with any company
becomes repayable under this section in consequence of the carrying
on by the company of any business, the company shall give notice
in writing to the person appearing to the company to be entitled
to repayment, describing the business in question and informing him
of his right to demand repayment under this section.

(3) The deposits to which this section applies, in relation to any
advertisement issued by a company, are all deposits made with the
company after the date on which the advertisement is first issued
and before the expiration of fourteen days after the date on which
accounts comprising particulars of the business in question are next
delivered by the company under this Act; but a deposit shall not
be repayable under this section in consequence of the carrying on
by a company of any business

(a)if, before the deposit is made, the company has given notice in
writing describing the business in question to the person making the
deposit; or

(b)if, before the business in question is commenced, the company has
given notice in writing to the depositor describing that business
and the depositor has not within such period as may be specified
for that purpose in the notice (not being less than fourteen days)
signified to the company in writing his intention of demanding
repayment if the business is commenced; or

(c)if the notice given in respect of the deposit under subsection
(2) specifies a period (not being less than fourteen days) within
which a demand for repayment may be made by virtue of this section
and no such demand is made within that period.

(4) Any notice under this section shall be deemed to have been
given to a person if sent to him by post at his last known
address.

(5) For the purposes of this section a company shall be treated as
carrying on any business carried on by any company which is a
subsidiary of that company.

PROTECTION OF DEPOSITORS ACT (NORTHERN IRELAND) 1964 - SECT 13
Regulations as to form of accounts and notices.

13.(1) The Ministry may make regulations with respect to the form
and contents of the accounts to be delivered in pursuance of the
foregoing provisions of this Act, the statements, reports or other
documents to be annexed to such accounts, and the auditing of such
accounts; and except where the context otherwise requires, any
reference in this Act to such accounts shall be construed as
including a reference to any statements, reports or other documents
required to be annexed thereto.

(2) The Ministry may make regulations with respect to the form of
any notice required or authorised to be delivered or given under
the foregoing provisions of this Act.

(3) Regulations under subsection (1) shall include among the
statements to be annexed to the accounts of a company a statement
containing such particulars as may be prescribed by the regulations
with respect to the business carried on by the company, and any
subsidiary of the company, during the period to which those accounts
relate.

(4) Regulations under subsection (1) shall apply, with such
exceptions, additions or other modifications as may be prescribed by
the regulations, all or any of the provisions of [the Companies Act
(Northern Ireland) 1960 with respect to the accounts required by
Part IV of that Act] [the Companies Acts (Northern Ireland) 1960
and 1978 with respect to the accounts of which a copy is required
by Article 3 of the Companies (Northern Ireland) Order 1978] to be
laid before a company in general meeting; but except so far as
provided by such regulations, the said provisions of [that Act]
[those Acts] shall not apply to the accounts to be delivered under
this Act.

(5) Regulations under subsection (1) may, for the purpose of
securing more accurate information, require that the interim accounts
to be delivered under section 5 or section 6 by companies to which
those sections apply, or by any class or description of such
companies, shall be audited accounts; but such regulations shall not
affect the date as at which or the period for which any accounts
required by those sections are to be made up or the period within
which they are to be delivered.

(6) Regulations under subsection (1) shall be subject to affirmative
resolution.

[(7) The documents required by section 122 of the Companies Act
(Northern Ireland) 1960 to be annexed to the annual return made by
a company shall not include copies of any accounts delivered to the
Registrar and the Ministry under this Act.]

PROTECTION OF DEPOSITORS ACT (NORTHERN IRELAND) 1964 - SECT 14
Default in respect of accounting obligations.

14. Any company which makes default in complying with any
requirement of this Act as to the delivery to the Registrar or the
Ministry of any accounts or notice, in furnishing any accounts or
other document required to be furnished under section 11, or in
giving any notice required by section 7(3) or section 12(2), shall
be guilty of an offence, and shall be liable on summary conviction
to a fine not exceeding two hundred pounds.

PROTECTION OF DEPOSITORS ACT (NORTHERN IRELAND) 1964 - SECT 15
Falsification of accounts, etc.

15.(1) [Subject to subsection (3),] if any person, being an officer
of a company

(a)causes or permits to be included in any account, notice or other
document required or authorised by or under this Act to be
delivered to the Registrar or the Ministry any statement which, to
his knowledge, is false in a material particular;

<[(b)conceals, destroys, mutilates or falsifies, or is privy to the concealment, destruction, mutilation or falsification of, any document affecting or relating to the property or affairs of the company and containing information which is or may be required to be furnished under this Act;]

<[(c)makes or is privy to the making of any false entry in any such document; or]

<[(d)fraudulently parts with, alters or makes any omission in, or is privy to the fraudulent parting with, altering or making any omission in, any such document;]

(2) A person guilty of an offence under this section shall be
liable

(a)on conviction on indictment, to imprisonment for a term not
exceeding two years or to a fine, or to both;

(b)on summary conviction, to imprisonment for a term not exceeding
three months or to a fine not exceeding two hundred pounds, or to
both.

[(3) In proceedings against any person for an offence under
subsection (1)(b) or (c), it shall be a defence to prove that he
had no intent to conceal the state of affairs of the company or
to defeat the law.]

Winding up on petition of Ministry.

PROTECTION OF DEPOSITORS ACT (NORTHERN IRELAND) 1964 - SECT 16

16.(1) The court may, on a petition presented by the Ministry by
virtue of this section, wind up under the Companies Act (Northern
Ireland) 1960 any company to which section 6 applies, or to which
that section has applied at any time during the six months
preceding the presentation of the petition, if

(a)the company is unable to pay sums due and payable to its
depositors, or is able to pay such sums only by obtaining
additional deposits or by defaulting in its obligations to its other
creditors; or

(b)the value of the company's assets is less than the amount of
its liabilities; or

(c)default has been made by the company in complying with any
requirement of this Act as to the delivery of accounts; or

(d)the company has failed to comply with the requirements of
[section 141 of the Companies Act (Northern Ireland) 1960 (books of
account)] [Article 25 of the Companies (Northern Ireland) Order 1978
(accounting records)] or to produce [books kept pursuant to that
section] [records kept pursuant to that Article], and the Ministry
is unable to ascertain the financial position of the company.

(2) A company which has been served with a winding-up petition
presented by the Ministry under this section shall not without the
consent of the court while any proceedings on the petition are
pending

(a)accept deposits from any person; or

(b)make any payment directly or indirectly to or for the benefit of
any person who is, or was at the date of the presentation of the
petition, an officer of the company.

(3) If any deposit is accepted or any payment made in contravention
of subsection (2), the company shall be guilty of an offence, and
shall be liable, on conviction on indictment or on summary
conviction, to a fine which, on summary conviction, shall not exceed
two hundred pounds.

(4) Notwithstanding any rule of law, any sum deposited or paid in
contravention of subsection (2) may be recovered by the depositor or
the company, as the case may be, as money had and received.

(5) In determining for the purposes of this section whether the
value of a company's assets is less than the amount of its
liabilities, account shall be taken of contingent and prospective
liabilities of the company.

(6) Notwithstanding section 349(2) of the Companies Act (Northern
Ireland) 1960, an unregistered company having a principal place of
business situate in England or Scotland may be wound up by virtue
of this section if it has an established place of business in
Northern Ireland.

PROTECTION OF DEPOSITORS ACT (NORTHERN IRELAND) 1964 - SECT 17
Power of court to order delivery of accounts.

17.(1) If any company, having made default in complying with any
requirement of this Act as to the delivery of accounts, fails to
make good the default within fourteen days after the service of a
notice on the company requiring it to do so, the court may on the
application of the Registrar or of the Ministry make an order

(a)directing the company and any officer thereof to make good the
default within such time as may be specified in the order;

(b)if the court thinks fit, prohibiting the acceptance of deposits
with the company until the default is made good;

(c)ordering the costs to be paid by any persons who in the opinion
of the court, are responsible for the default.

(2) If, on an application by the Registrar or the Ministry for an
order under subsection (1) in respect of any default, it appears to
the court that the default is incapable of being made good, the
court may, in lieu of making an order under that subsection, order
the company to be wound up.

(3) Nothing in this section shall be taken to prejudice the
operation of any provision of this Act imposing penalties on a
company or its officers in respect of any such default as
aforesaid.

Ss. 1820 rep. by 1978 NI 12 art.153(2) sch.7

S.21 amends ss.12, 13 of 1940 c.9 (NI)

PROTECTION OF DEPOSITORS ACT (NORTHERN IRELAND) 1964 - SECT 22
Liability of directors, etc.

22.(1) A director or other officer of a company who, by virtue of
section 20(2) of the Interpretation Act (Northern Ireland) 1954, is
liable to be punished for an offence under section 14 or section
16(3) committed by the company shall be liable

(a)on conviction of an offence under section 14, or on summary
conviction of an offence under section 16(3), to imprisonment for a
term not exceeding three months;

(b)on conviction on indictment of an offence under section 16(3), to
imprisonment for a term not exceeding two years;

(2) In the application of the said section 20(2) to this Act, a
person shall, subject to subsection (3), be deemed to be a director
of a body corporate if he occupies in relation thereto the position
of a director, by whatever name called, or is a person in
accordance with whose directions or instructions the directors of the
company or any of them act.

(3) A person shall not, by reason only that the directors of a
body corporate act on advice given by him in a professional
capacity, be taken to be a person in accordance with whose
directions or instructions those directors act.

PROTECTION OF DEPOSITORS ACT (NORTHERN IRELAND) 1964 - SECT 23
Criminal proceedings.

23.(1) No proceedings for an offence under this Act shall be
instituted in Northern Ireland except by or with the consent of the
Attorney General or the Ministry.

(2) Summary proceedings for any offence under this Act may (without
prejudice to any jurisdiction exercisable apart from this subsection)
be taken against a body corporate at any place at which the body
has a place of business, and against any other person at any place
at which he is for the time being.

(3) Notwithstanding any provision in any Act prescribing the period
within which summary proceedings may be commenced, summary proceedings
for an offence under this Act may be commenced at any time within
three years after the commission of the offence and within twelve
months after the date on which evidence sufficient in the opinion
of the Attorney General or the Ministry, as the case may be, to
justify the proceedings comes to his or the Ministry's knowledge.

(4) For the purposes of this section, a certificate of the Attorney
General or the secretary or an assistant secretary of the Ministry,
as the case may be, as to the date on which such evidence as
aforesaid came to the Attorney General's or the Ministry's knowledge
shall be conclusive evidence.

PROTECTION OF DEPOSITORS ACT (NORTHERN IRELAND) 1964 - SECT 24
Fees, documents and expenses.

24.(1) There shall be paid to the Registrar, for the registration
of any such accounts, notice or other document delivered to him
under this Act as may be prescribed by regulations made by the
Ministry, a fee of [25p].

(2) Section 374(1) of the Companies Act (Northern Ireland) 1960
(inspection and copies of documents) shall, subject to any necessary
modifications, apply in relation to any documents delivered to the
Registrar under this Act as it applies in relation to any documents
kept by him under that Act.

(3) Any administrative expenses incurred by the Ministry in
consequence of the provisions of this Act shall be defrayed out of
moneys provided by Parliament.

PROTECTION OF DEPOSITORS ACT (NORTHERN IRELAND) 1964 - SECT 25
Companies subject to this Act.

25.(1) In this Act "company" means, subject to subsections (2) and
(3)

(a)a company formed and registered under the Companies Act (Northern
Ireland) 1960;

(b)an existing company within the meaning of that Act;

(c)a body corporate incorporated in and having a principal place of
business in Northern Ireland, being a body to which any provisions
of the said Act of 1960 with respect to prospectuses and allotments
apply by virtue of section 383 of that Act; or

(d)a body corporate incorporated outside Northern Ireland.

(2) References in this Act to a company do not include references
to any banking or discount company ....

(3) Regulations made under paragraph (b) of subsection (1) of
section 3 may direct that all or any of the provisions of this
Act which apply to a company in respect of or in consequence of
the issue of an advertisement for deposits shall not apply to any
company in respect of or in consequence of the issue of an
advertisement (whether issued before or after the regulations come
into force) of any class exempted by the regulations from section
2; and such regulations may include provision

(a)for requiring any company which, by virtue of the regulations, is
exempt from the requirement to deliver accounts under this Act, to
deliver a notice to that effect to the Registrar and to the
Ministry; and

(b)for applying subsection (4) of section 7 in relation to any such
company which thereafter ceases to be so exempt.

PROTECTION OF DEPOSITORS ACT (NORTHERN IRELAND) 1964 - SECT 26
Definitions of deposit, advertisement, etc.

26.(1) In this Act "deposit" means a loan of money at interest, or
repayable at a premium, but does not include

(a)a loan to a company or other body corporate upon terms involving
the issue of debentures or other securities; or

(b)a loan by a body corporate, firm or other person whose ordinary
business includes the business of banking, or who carried on a
business of such other class or description as may be prescribed by
regulations of the Ministry;

(2) For the purposes of this Act a company shall be taken to be
retaining money deposited with the company if it owes any sum
(whether on account of principal, interest or premium, and whether
immediately payable or not) in respect of any such money.

(3) In this Act "advertisement" includes every form of advertising,
whether in a publication or by the display of notices or by means
of circulars or other documents or by an exhibition of photographs
or cinematograph films, or by way of sound broadcasting or
television, and references to the issue of an advertisement shall be
construed accordingly; and for the purposes of this Act an
advertisement issued by any person by way of display or exhibition
in a public place shall be treated as issued by him on every day
on which he causes or permits it to be so displayed or exhibited.

(4) For the purposes of this Act an advertisement which contains
information calculated to lead directly or indirectly to the deposit
of money by the public shall be treated as an advertisement
inviting the public to deposit money.

(5) For the purposes of this Act, an advertisement issued by any
person on behalf of or to the order of another person shall be
treated as an advertisement issued by that other person; and for
the purposes of any proceedings under this Act, an advertisement
inviting the public to deposit money with a person specified in the
advertisement shall be presumed, unless the contrary is proved, to
have been issued by that person.

(6) Regulations under subsection (1) shall be subject to negative
resolution.

PROTECTION OF DEPOSITORS ACT (NORTHERN IRELAND) 1964 - SECT 27
General interpretation.

27.(1) In this Act

"advertisement for deposits" means, in relation to any company, an
advertisement inviting the public to deposit money with that company;

"the appointed day" means the last day of the period of six months
beginning with the date of the passing of this Act;

["audited accounts", in relation to a company, means accounts audited
by a person who is qualified for appointment as auditor of that
company;

"banking or discount company" means a company which satisfies the
Department that it ought to be treated for the purposes of this
Act as a banking company or as a discount company];

"building society" means a society registered under the Building
Societies Acts (Northern Ireland) 1874 to 1940 or any building
society within the meaning of the Building Societies Act 1962, and
any unincorporated society to which section 125 of that Act applies;

"depositor" means a person entitled, or prospectively entitled, to
repayment of a deposit, whether made by him or not;

"friendly society" means a society registered (whether in Northern
Ireland or Great Britain) under the Friendly Societies Act 1896;

"industrial and provident society" means a society registered (whether
in Northern Ireland or Great Britain) under the Industrial and
Provident Societies Act 1893;

"profit and loss account" includes, in the case of a company not
trading for profit, an income and expenditure account;

"the public" includes any section of the public, however selected,
including, in relation to a company, a section selected as members
or debenture holders of, or as depositors with, the company;

"the Registrar" means the registrar of companies as defined in the
Companies Act (Northern Ireland) 1960;

["trustee savings bank" means a trustee savings bank within the
meaning of section 95(1) of the Trustee Savings Banks Act 1969;]

(2) In subsection (1) any reference to an enactment of the
Parliament of the United Kingdom includes a reference to any
enactment of that Parliament re-enacting that enactment, whether with
or without modifications.

(3) For the purposes of this Act the date of a balance sheet
shall be taken to be the date as at which the balance sheet is
made up.

PROTECTION OF DEPOSITORS ACT (NORTHERN IRELAND) 1964 - SECT 28
Short title and commencement.

28.(1) This Act may be cited as the Protection of Depositors Act
(Northern Ireland) 1964.

Subs.(2) rep. by SLR 1973