Depositors’ Protection Board v Dalia: HL 20 May 1994

The House was asked as to the meaning of the word ‘depositor’. Regulations were prayed in aid which were made four years after the date of the enactment.
Held: The protection given by the Depositor Protection Scheme does not extend to equitable assignees of deposits. Such assignees are not depositors within the meaning of the scheme. Lord Browne-Wilkinson said that regulations could only be used an aid to construction where the regulations are roughly contemporaneous with the Act being construed.
After a legal assignment only the assignee can be said to have any entitlement against the Defendant.

Judges:

Lord Browne-Wilkinson

Citations:

Times 20-May-1994, Gazette 29-Jun-1994, Independent 31-May-1994, [1994] 2 AC 367, [1994] 2 AC 367

Statutes:

Banking Act 1987 58(1)

Citing:

Appeal fromDepositors’ Protection Board v Dalia and Another CA 11-May-1993
The Board was liable to pay compensation claims from equitable assignees of depositors with a failed bank. They were not to be excluded from making claims. . .
At First InstanceDepositors Protection Board v Dalia and Another ChD 18-Nov-1992
Equitable assignees of deposits in a bank where those deposits were protected under the scheme, were entitled to the compensation which would have been paid to the beneficial owners. . .

Cited by:

CitedA, Regina (on The Application of) v B; Regina (A) v Director of Establishments of the Security Service SC 9-Dec-2009
B, a former senior member of the security services wished to publish his memoirs. He was under contractual and statutory obligations of confidentiality. He sought judicial review of a decision not to allow him to publish parts of the book, saying it . .
CitedRevenue and Customs v Forde and McHugh Ltd SC 26-Feb-2014
The Court heard a number of appeals concerned with the interpretation of the phrase in section 6(1) of the Social Security Contributions and Benefits Act 1992, ‘[w]here in any tax week earnings are paid to or for the benefit of an earner’ It was . .
Lists of cited by and citing cases may be incomplete.

Banking, Financial Services

Updated: 19 May 2022; Ref: scu.79916