2.—(1) Schedule 3 to the Act (EEA passport rights) is amended as folows.U.K.
(2) For paragraph 2 M1 substitute—
“2. ”The banking consolidation directive” means 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.”.
(3) In paragraph 5, for paragraphs (b) and (c) M2 substitute—
“(b)a credit institution (as defined in Article 4.1 of the banking consolidation directive) which is authorised (within the meaning of Article 4.2) by its home state regulator,
(c)a financial institution (as defined in Article 4.5 of the banking consolidation directive) which is a subsidiary of the kind mentioned in Article 24 and which fulfils the conditions in that Article;”.
(4) In paragraph 24(1)(b), for “Article 19” substitute “ Article 24 ”.
Marginal Citations
M1Paragraph 2 was substituted by the Banking Consolidation Directive (Consequential Amendments) Regulations 2000, S.I. 2000/2952.
M2Paragraph 5(b) was substituted by S.I. 2000/2952.