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Bankruptcy (Scotland) Act 2016
This section has no associated Explanatory Memorandum
8.—(1) Schedule 3 to the Bankruptcy (Scotland) Act 2016() is amended as follows.
(2) In paragraph 8 (other deposits)—
(a)in sub-paragraph (a)—
(i)for “non-EEA” substitute “non-UK”;
(ii)for “an EEA state” substitute “the United Kingdom”;
(b)in sub-paragraph (b) for “an EEA” substitute “a UK”.
(3) In paragraph 13 (meaning of “eligible deposit”)—
(a)for sub-paragraph (3)(b) substitute—
“(b)any micro, small or medium-sized enterprise, as defined with regard to the annual turnover criterion referred to in Article 2(1) of the Annex to Commission Recommendation 2003/361/EC.”;
(b)for sub-paragraphs (4)(b) and (c) substitute—
“(b)“UK branch” means a branch, as defined in Article 4(1)(17) of the capital requirements regulation, which is established in the United Kingdom, and
(c)“non-UK branch” means a branch, as so defined, which is established outside the United Kingdom.”;
(c)for sub-paragraph (5) substitute—
“(5) In sub-paragraph (4)(a) and (b), “the capital requirements regulation” means Regulation (EU) No. 575/2013 of the European Parliament and of the Council of 26 June 2013 on prudential requirements for credit institutions and investment firms and amending Regulation (EU) No. 648/2012.”.
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