Terrorism Act 2000

Financial institution U.K.

6 (1) In this Schedule “financial institution” means—

[F1 (a) a person who has permission under Part 4 of the Financial Services and Markets Act 2000 to accept deposits,]

F2 (b) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(c) a credit union (within the meaning of the M1 Credit Unions Act 1979 or the M2 Credit Unions (Northern Ireland) Order 1985),

[F3 (d) a person carrying on a relevant regulated activity,]

(e) the National Savings Bank,

(f) a person who carries out an activity for the purposes of raising money authorised to be raised under the M3 National Loans Act 1968 under the auspices of the Director of National Savings,

(g) a European institution carrying on a home regulated activity (within the meaning of [F4 Directive 2006/48/EC of the European Parliament and of the Council of 14 June 2006] relating to the taking up and pursuit of the business of credit institutions),

(h) a person carrying out an activity specified in any of points 1 to 12 and 14 of [F5 Annex 1] to that Directive, and

(i) a person who carries on an insurance business in accordance with an authorisation pursuant to [F6 Article 4 or 51 of Directive 2002/83/EC of the European Parliament and of the Council of 5th November 2002 concerning life assurance] .

[F7 (1A) For the purposes of sub-paragraph (1)(d), a relevant regulated activity means—

(a) dealing in investments as principal or as agent,

(b) arranging deals in investments,

(c) managing investments,

(d) safeguarding and administering investments,

(e) sending dematerialised instructions,

(f) establishing etc. collective investment schemes,

(g) advising on investments.

(1B) Sub-paragraphs (1)(a) and (1A) 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.]

(2) The Secretary of State may by order provide for a class of person—

(a) to be a financial institution for the purposes of this Schedule, or

(b) to cease to be a financial institution for the purposes of this Schedule.

(3) An institution which ceases to be a financial institution for the purposes of this Schedule (whether by virtue of sub-paragraph (2)(b) or otherwise) shall continue to be treated as a financial institution for the purposes of any requirement under paragraph 1 to provide customer information which relates to a time when the institution was a financial institution.

Textual Amendments

F1 Sch. 6 para. 6(1)(a) substituted (1.12.2001) by S.I. 2001/3649, arts. 1, 361(2)(a)

F2 Sch. 6 para. 6(1)(b) repealed (1.12.2001) by S.I. 2001/3649, arts. 1, 361(2)(b)

F3 Sch. 6 para. 6(1)(d) substituted (1.12.2001) by S.I. 2001/3649, arts. 1, 361(2)(c)

F4 Words in Sch. 6 para. 6(1)(g) substituted (1.1.2007) by The Capital Requirements Regulations 2006 (S.I. 2006/3221), reg. 29(2), Sch. 4 para. 6(3)

F5 Words in Sch. 6 para. 6(1)(h) substituted (22.11.2000) by S.I. 2000/2952, reg. 9(b)

F6 Words in Sch. 6 para. 6(1)(i) substituted (11.1.2005) by The Life Assurance Consolidation Directive (Consequential Amendments) Regulations 2004 (S.I. 2004/3379), reg. 7

F7 Sch. 6 para 6(1A)(1B) inserted (1.12.2001) by S.I. 2001/3649, arts. 1, 361(3)

Commencement Information

I1 Sch. 6 wholly in force at 19.2.2001; Sch. 6 not in force at Royal Assent see s. 128; Sch. 6 para. 6(2) in force at 31.10.2000 by S.I. 2000/2944, art. 2(j)(ii); Sch. 6 in force at 19.2.2001 in so far as not already in force by S.I. 2001/421, art. 2

Marginal Citations

M1 1979 c. 34.

M2 S.I. 1985/1205 (N.I.12).

M3 1968 c. 13.