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

Interpretation of the 1985 Act

300.—(1) Section 622 of the Housing Act 1985 is amended as follows.

(2) The existing text is numbered subsection (1).

(3) In subsection (1), the definitions of “bank”, “building society”(1), “insurance company” and “trustee savings bank” are repealed.

(4) In subsection (1), after the definition of “assured agricultural tenancy” insert—

““authorised deposit taker” means—

(a)

a person who has permission under Part 4 of the Financial Services and Markets Act 2000 to accept deposits, or

(b)

an EEA firm of the kind mentioned in paragraph 5(b) of Schedule 3 to that Act who 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;

“authorised insurer” means—

(a)

a person who has permission under Part 4 of the Financial Services and Markets Act 2000 to effect or carry out contracts of insurance, or

(b)

an EEA firm of the kind mentioned in paragraph 5(b) of Schedule 3 to that Act who has permission under paragraph 15 of that Schedule (as a result of qualifying for authorisation under paragraph 12(1) of that Schedule) to effect or carry out contracts of insurance;”.

(5) After subsection (1) insert—

“(2) The definitions of “authorised deposit taker” and “authorised insurer” in subsection (1) must be read with—

(a) section 22 of the Financial Services and Markets Act 2000;

(b) any relevant order under that section; and

(c) Schedule 2 to that Act.”.

(1)

The definition of “bank” was amended by the Banking Act 1987 (c. 22), and the definition of “building society” was substituted by the Building Societies Act 1986 (c. 53), section 120(1), Schedule 18, paragraph 18(5).