[F1699A Credit and financial institutions to which the Bank Branches Directive (89/117/EEC) applies.E+W+S
(1)This section applies to any credit or financial institution—
(a)which is incorporated or otherwise formed outside the United Kingdom and Gibraltar,
(b)whose head office is outside the United Kingdom and Gibraltar, and
(c)which has a branch in Great Britain.
(2)Schedule 21C (delivery of accounts and reports) shall have effect in relation to any institution to which this section applies.
(3)In this section—
“branch”, in relation to a credit or financial institution, means a place of business which forms a legally dependent part of the institution and which conducts directly all or some of the operations inherent in its business;
[F2“credit institution” means a credit institution as defined in [F3Article 4(1)(a) of Directive 2006/48/EC of the European Parliament and of the Council of 14 June 2006] relating to the taking up and pursuit of the business of credit institutions, that is to say an undertaking whose business is to receive deposits or other repayable funds from the public and to grant credits for its own account;]
“financial institution”means a financial institution within the meaning of Article 1 of the Council Directive on the obligations of branches established in a Member State of credit and financial institutions having their head offices outside that Member State regarding the publication of annual accounting documents (the Bank Branches Directive, 89/117/EEC); and
“undertaking” has the same meaning as in Part VII.]
Textual Amendments
F1S. 699A inserted (1.1.1993) by S.I. 1992/3179, reg. 2(1).
F2Definition of "credit institution" in s. 699A(3) substituted (22.11.2000) by S.I. 2000/2952, reg. 2(3)
F3Words in definition of "credit institution" in s. 699A(3) substituted (1.1.2007) by The Capital Requirements Regulations 2006 (S.I. 2006/3221), reg. 1(1), Sch. 4 para. 2(3)