Part XXIII Oversea Companies
F1Chapter II Delivery of Accounts and Reports
699AF2Credit and financial institutions to which the Bank Branches Directive (89/117/EEC) applies.
1
This section applies to any credit or financial institution—
a
which is incorporated or otherwise formed outside the United Kingdom and Gibraltar,
b
whose head office is outside the United Kingdom and Gibraltar, and
c
which has a branch in Great Britain.
2
Schedule 21C (delivery of accounts and reports) shall have effect in relation to any institution to which this section applies.
3
In this section—
“branch”, in relation to a credit or financial institution, means a place of business which forms a legally dependent part of the institution and which conducts directly all or some of the operations inherent in its business;
“credit institution” means a credit institution as defined in article 1 of the First Council Directive on the co-ordination of laws, regulations and administrative provisions relating to the taking up and pursuit of the business of credit institutions (77/780/EEC), that is to say an undertaking whose business is to receive deposits or other repayable funds from the public and to grant credits for its own account;
“financial institution”means a financial institution within the meaning of Article 1 of the Council Directive on the obligations of branches established in a Member State of credit and financial institutions having their head offices outside that Member State regarding the publication of annual accounting documents (the Bank Branches Directive, 89/117/EEC); and
“undertaking” has the same meaning as in Part VII.]
Pt. XXIII Chap. II (ss. 700–703) substituted (subject to the transitional and saving provisions in S.I. 1990/355, arts. 6–9, Sch. 3 para. 3) by Companies Act 1989 (c. 40, SIF 27), ss. 23, 213(2), Sch. 10 para. 13