Part XXVI Interpretation

F1742B Meaning of “banking company”

1

Subject to subsection (2), “banking company” means a person who has permission under Part 4 of the Financial Services and Markets Act 2000 to accept deposits.

2

A banking company does not include—

a

a person who is not a company, and

b

a person who has permission to accept deposits only for the purpose of carrying on another regulated activity in accordance with that permission.

3

This section 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.