PART 9AMENDMENTS TO SECONDARY LEGISLATION
The Justices' Chief Executives (Accounts) Regulations 2001 (S.I. 2001/463)
Meaning of “bank”609
1
Regulation 6 of the Justices' Chief Executives (Accounts) Regulations 2001 (bank accounts) is amended as follows.
2
For paragraph (3) substitute—
3
In paragraph (1) “bank” means—
a
a person who has permission under Part 4 of the Financial Services and Markets Act 2000 to accept deposits;
b
an EEA firm of the kind mentioned in paragraph 5(b) of Schedule 3 to that Act, which has permission under paragraph 15 of that Schedule (as a result of qualifying for authorisation under paragraph 12 of that Schedule) to accept deposits.
3
After paragraph (3) insert—
3A
But where a person of the kind mentioned in paragraph (3)(a) is a building society within the meaning of the Building Societies Act 1986, it is not a bank for the purposes of paragraph (1) unless it may lawfully provide corporate banking services.
3B
Paragraph (3) 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.
4
In paragraph (4), for “subsection (3)(c)” substitute “paragraph (3)(b)”.