(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.
Textual Amendments
F1Ss. 742A-C inserted (1.12.2001) by S.I. 2001/3649, arts. 1, 29