Where an interim third party debt order made in the exercise of the jurisdiction mentioned in subsection (2) of the preceding section is served on a deposit-taker, it may, subject to the provisions of this section, deduct from the relevant debt or debts an amount not exceeding the prescribed sum towards its administrative and clerical expenses in complying with the order; and the right . . . to make a deduction under this subsection shall be exercisable as from the time the interim third party debt order is served on it.
In subsection (1) "the relevant debt or debts", in relation to an interim third party debt order served on a deposit-taker, means the amount, as at the time the order is served on it, of the debt or debts of which the whole or a part is expressed to be attached by the order.
A deduction may be made under subsection (1) in a case where the amount referred to in subsection (1A) is insufficient to cover both the amount of the deduction and the amount of the judgment debt and costs in respect of which the attachment was made, notwithstanding that the benefit of the attachment to the creditor is reduced as a result of the deduction.
An amount may not in pursuance of subsection (1) be deducted or, as the case may be, retained in a case where, by virtue of section 346 of the Insolvency Act 1986 or section183 of the Insolvency Act 1986 or otherwise, the creditor is not entitled to retain the benefit of the attachment.
In this section—
"deposit-taker" has the given by section 40(6); and
"prescribed" means prescribed by an order made by the Lord Chancellor.
An order under this section—
Any such order shall be made by statutory instrument subject to annulment in pursuance of a resolution of either House of Parliament.