Income and Corporation Taxes Act 1988

[F1 840A Banks. U.K.

(1) In any provision in relation to which it is provided that “bank” has the meaning given by this section “bank” means—

(a) the Bank of England;

(b) an institution authorised under the M1 Banking Act 1987;

(c) a relevant European institution; or

(d) a relevant international organisation which is designated as a bank for the purposes of that provision by an order made by the Treasury.

(2) For the purposes of subsection (1) above, an institution is a relevant European institution if—

(a) it is a European authorised institution within the meaning of the M2 Banking Co-ordination (Second Council Directive) Regulations 1992; and

(b) the requirements of paragraph 1 of Schedule 2 to those regulations have been complied with in relation to its establishment of a branch.

(3) For the purposes of subsection (1) above, a relevant international organisation is an international organisation of which the United Kingdom is a member.]

Textual Amendments

F1 S. 840A inserted (29.4.1996) by Finance Act 1996 (c. 8), Sch. 37 para. 1(1)

Marginal Citations

M1 1987 c. 22.

M2 S.I. 1992/3218.