1979 c. 34

S.I. 1985 /1205 (N.I. 12).

1974 c. 46.

http://www.legislation.gov.uk/uksi/2001/3649/article/362/madeThe Financial Services and Markets Act 2000 (Consequential Amendments and Repeals) Order 2001Capital and financial marketsOccupational pensionsBusiness practice and regulationLegislationInsuranceKing's Printer of Acts of Parliament2019-07-09FINANCIAL SERVICES AND MARKETSThis Order sets out the amendments to primary and secondary legislation consequential on the coming into force of the Financial Services and Markets Act 2000 (c. 8) (“FSMA”). The large majority of the amendments are needed as a result of the principal repeals and revocations made by article 3. All references in other legislation to the enactments repealed here, or to expressions used in those enactments, have been amended in the subsequent provisions of the Order so that they refer to the appropriate provision or expression under FSMA.PART 8MISCELLANEOUS AMENDMENTS TO PRIMARY LEGISLATIONPostal Services Act 2000 (c. 26)
362Meaning of “bank”1

Section 7 of the Postal Services Act 2000 (exceptions from section 6) is amended as follows.

2

In subsection (5) for the definition of “bank” substitute—

“bank” means—

a

the Bank of England,

b

a deposit taker,

c

an EEA firm of the kind mentioned in paragraph 5(b) of Schedule 3 to the Financial Services and Markets Act 2000 which has permission under paragraph 15 of that Schedule (as a result of qualifying for authorisation under paragraph 12(1) of that Schedule) to accept deposits, or

d

the central bank of an EEA State other than the United Kingdom.

.

3

In subsection (5), after the definition of “departure facility” insert—

“deposit taker” means a person who has permission under Part 4 of the Financial Services and Markets Act 2000 to accept deposits, but does not include—

a

a credit union, within the meaning of the Credit Unions Act 1979 or the Credit Unions (Northern Ireland) Order 1985,

b

a specially authorised society within the meaning of section 7(1)(f) of the Friendly Societies Act 1974,

c

a person who has permission to accept deposits only for the purpose of carrying on another regulated activity in accordance with that permission.

.

4

After subsection (5) insert—

6

In subsection (5), paragraph (c) of the definition of “bank” and the definition of “deposit taker” must be read with—

a

section 22 of the Financial Services and Markets Act 2000;

b

any relevant order under that section; and

c

Schedule 2 to that Act.

.

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<heading>MISCELLANEOUS AMENDMENTS TO PRIMARY LEGISLATION</heading>
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Postal Services Act
<ref href="http://www.legislation.gov.uk/id/ukpga/2000/26">2000 (c. 26)</ref>
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<num>362</num>
<heading>Meaning of “bank”</heading>
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<p>Section 7 of the Postal Services Act 2000 (exceptions from section 6) is amended as follows.</p>
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<noteRef href="#f00256" class="footnote" marker="256"/>
or the Credit Unions (Northern Ireland) Order 1985
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,
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a specially authorised society within the meaning of section 7(1)(f) of the Friendly Societies Act 1974
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