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Part 8 U.K.Investigations

Chapter 4 U.K.Interpretation

416 Other interpretative provisionsU.K.

(1)These expressions are to be construed in accordance with these provisions of this Part—

(2)In the application of this Part to England and Wales and Northern Ireland, these expressions are to be construed in accordance with these provisions of this Part—

(3)In the application of this Part to Scotland, these expressions are to be construed in accordance with these provisions of this Part—

(4)Financial institution” means a person carrying on a business in the regulated sector.

(5)But a person who ceases to carry on a business in the regulated sector (whether by virtue of paragraph 5 of Schedule 9 or otherwise) is to continue to be treated as a financial institution for the purposes of any requirement under—

(a)a customer information order, or

(b)an account monitoring order,

to provide information which relates to a time when the person was a financial institution.

(6)References to a business in the regulated sector must be construed in accordance with Schedule 9.

(7)Recovery order”, “interim receiving order” and “interim administration order” have the same meanings as in Part 5.

(8)References to notice in writing include references to notice given by electronic means.

(9)This section and sections 413 to 415 apply for the purposes of this Part.

Commencement Information

I1S. 416 in force at 24.2.2003 by S.I. 2003/120, art. 2, Sch. (with arts. 3, 4) (as amended (20.2.2003) by S.I. 2003/333, art. 14)