Deposit Protection Board

Deposit Protection Board
A now defunct body corporate established by the Banking Act 1979 to pay out of the Deposit Protection Fund to each depositor who has a protected deposit with an authorised institution an amount equal to three-quarters of his protected deposit. It was replaced by the Financial Services Compensation Scheme in 2001.

Practical Law Dictionary. Glossary of UK, US and international legal terms. . 2010.

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