General definitions
3. In regulation 2 –
(a)the existing provision shall be renumbered as paragraph (1);
(b)the definitions of “European authorised institution” and “European institution” shall be omitted;
(c)the definition of “home-regulated investment business” shall be omitted;
(d)for the definition of “relevant institution” there shall be substituted –
““relevant institution” means –
a person who has permission under Part IV of the Financial Services and Markets Act 2000(1) to accept deposits;
an EEA firm of the kind mentioned in paragraph 5 (b) of Schedule 3 to that Act 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
a person who is an exempt person in respect of accepting deposits as a result of an order made under section 38(1) of that Act;”;
(e)after paragraph (1) as so renumbered there shall be inserted –
“(2) The definition of “relevant institution” in paragraph (1), together with regulations 3(4) to (5A) and 4(2) and paragraph 4 of Part I of the Schedule, 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.”.