[F133BAcceptable forms of payment: meaning of “bank or building society account”S
(1)In section 33A(2)(b), “bank or building society account” means an account held with a bank or a building society.
(2)For the purposes of subsections (1) and (4)—
(a)“bank” means an authorised deposit-taker that has its head office or a branch in the United Kingdom, and
(b)“building society” has the same meaning as in the Building Societies Act 1986.
(3)In subsection (2)(a), “authorised deposit-taker” means—
(a)a person who has permission to accept deposits under Part 4A of the Financial Services and Markets Act 2000 (but see subsection (4) for exclusions),
(b)an EEA firm of the kind mention in paragraph 5(b) of Schedule 3 to that Act that has permission under paragraph 15 of that Schedule (as a result of qualifying for authorisation under paragraph 12(1) of that Schedule).
(4)The reference in subsection (3)(a) to a person who has permission to accept deposits under Part 4A of the Financial Services and Markets Act 2000 does not include—
(a)a building society,
(b)a society registered as a credit union under the Co-operative and Community Benefit Societies Act 2014 or the Credit Unions (Northern Ireland) Order 1985 (S.I. 1985/1205 (N.I. 12)),
(c)a friendly society within the meaning given by section 116 of the Friendly Societies Act 1992, or
(d)an insurance company within the meaning of section 275 of the Finance Act 2004.]
Textual Amendments
F1S. 33A - S. 33B inserted (1.9.2016) by Air Weapons and Licensing (Scotland) Act 2015 (asp 10), ss. 69, 88(2); S.S.I. 2016/85, art. 2, sch.