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The Financial Services and Markets Act 2000 (Consequential Amendments) (Taxes) Order 2001

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This is the original version (as it was originally made). This item of legislation is currently only available in its original format.

Interpretation: meaning of “bank”

46.—(1) Amend section 840A (meaning of bank) as follows.

(2) In subsection (1) for paragraphs (b) and (c) substitute—

(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(1),

(iii)a society registered as a credit union under the Industrial and Provident Societies Act 1965(2) or the Credit Unions (Northern Ireland) Order 1985(3), 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;.

(3) Omit subsection (2).

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