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:
Citing:
Appeal from – Depositors’ 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 Instance – Depositors 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:
Cited – A, 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 . .
Cited – Revenue 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
