Income and Corporation Taxes Act 1988

[F1840A 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;

[F2(b)a person who has permission under Part 4 of the Financial Services and Markets Act 2000 to accept deposits other than—

(i)a building society within the meaning of the Building Societies Act 1986,

(ii)a friendly society within the meaning of section 116 of the Friendly Societies Act 1992 M1,

(iii)a society registered as a credit union under the Industrial and Provident Societies Act 1965 M2 or the Credit Unions (Northern Ireland) Order 1985 M3, or

(iv)an insurance company within the meaning of section 659B(1);

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

(2)F3. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

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