s 5 Membership of DI Scheme
5.—(1) Every full bank or finance company which is not exempted under section 6 is a DI Scheme member so long as it holds a valid licence under the Banking Act 1970 or the Finance Companies Act 1967, as the case may be. (2) Every full bank or finance company, which holds a valid licence under the Banking Act 1970 or the Finance Companies Act 1967 (as the case may be) immediately before 1 May 2011, is deemed to be a DI Scheme member from that date. (3) Every full bank or finance company, which is granted a licence under the Banking Act 1970 or the Finance Companies Act 1967 (as the case may be) on or after 1 May 2011, is a DI Scheme member from the date on which its licence is granted.