The Credit Unions (Authorised Investments) Order 1993

4.  In this Schedule—

“building society” means a society registered under the Building Societies Act 1986(1);

“deferred shares” has the meaning given to that term in section 119(1) of the Building Societies Act 1986;

“deposits” means deposits as defined in the Banking Act 1987(2) but excluding transferable instruments;

“EFTA state” means any of Austria, Finland, Iceland, Liechtenstein, Norway and Sweden;

“European authorised institution” has the meaning given to that term in regulation 3 of the Banking Coordination (Second Council Directive) Regulations 1992(3);

“European deposit-taker” has the meaning given to that term in regulation 82(3) of the Banking Coordination (Second Council Directive) Regulations 1992;

“fixed-interest securities” means securities on which the rate of interest is fixed by the terms of their issue;

“relevant date” means, in relation to any security in which an investment is made, the date on which that investment is made;

“relevant state” means any member State and any EFTA State;

“securities” means any debt evidenced by any bill of exchange, bond, debenture, debenture stock, or stock which is either—

(a)

listed on a stock exchange, or

(b)

traded on a money market supervised by a central bank or a government agency of any relevant state “stock exchange” means any stock exchange in any relevant state;

“transferable instruments” means transferable bearer instruments and transferable non-bearer instruments as defined in section 7(19) of the Building Societies Act 1986.

(1)

1986 c. 53.

(2)

1987 c. 22.

(3)

S.I.1992/3218.