Local Government Pension Scheme (Management and Investment of Funds) (Amendment) Regulations (Northern Ireland) 2003

General definitions

3.  In regulation 2 –

(a) the existing provision shall be renumbered as paragraph (1);

(b) the definitions of “European authorised institution” and “European institution” shall be omitted;

(c) the definition of “home-regulated investment business” shall be omitted;

(d) for the definition of “relevant institution” there shall be substituted –

““relevant institution” means –

(a)

a person who has permission under Part IV of the Financial Services and Markets Act 2000(1) 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(1) of that Schedule) to accept deposits; or

(c)

a person who is an exempt person in respect of accepting deposits as a result of an order made under section 38(1) of that Act;”;

(e) after paragraph (1) as so renumbered there shall be inserted –

“(2) The definition of “relevant institution” in paragraph (1), together with regulations 3(4) to (5A) and 4(2) and paragraph 4 of Part I of the Schedule, 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.”.

(1)

2000 c. 8