s 985 Meaning of “qualifying certificate of deposit”
(1) In this Part “ qualifying certificate of deposit ” means a certificate of deposit under which— (a) the amount payable is at least £50,000, exclusive of interest, and (b) that amount is payable at a specified time within 5 years beginning with the date on which the deposit is made. (2) If an amount is denominated in a foreign currency, subsection (1)(a) has effect as if it referred to an amount which is at least the equivalent in that currency of £50,000 at the time the deposit is made. (3) For the meaning of “certificate of deposit”, see section 1019.