Point in time view as at 03/10/2022.
Companies Act 2006, Section 1164 is up to date with all changes known to be in force on or before 04 March 2025. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations.
(1)This section defines “banking company” and “banking group” for the purposes of the Companies Acts.
(2)“Banking company” means a person who has permission under [F1Part 4A] of the Financial Services and Markets Act 2000 (c. 8) to accept deposits, other than—
(a)a person who is not a company, and
(b)a person who has such permission only for the purpose of carrying on another regulated activity in accordance with permission under that Part.
(3)The definition in subsection (2) must be read with section 22 of that Act, any relevant order under that section and Schedule 2 to that Act.
(4)References to a banking group are to a group where the parent company is a banking company or where—
(a)the parent company's principal subsidiary undertakings are wholly or mainly credit institutions, and
(b)the parent company does not itself carry on any material business apart from the acquisition, management and disposal of interests in subsidiary undertakings.
“Group” here means a parent undertaking and its subsidiary undertakings.
(5)For the purposes of subsection (4)—
(a)a parent company's principal subsidiary undertakings are the subsidiary undertakings of the company whose results or financial position would principally affect the figures shown in the group accounts, and
(b)the management of interests in subsidiary undertakings includes the provision of services to such undertakings.
Textual Amendments
F1Words in s. 1164(2) substituted (1.4.2013) by Financial Services Act 2012 (c. 21), s. 122(3), Sch. 18 para. 121 (with Sch. 20); S.I. 2013/423, art. 3, Sch.
The Whole Act without Schedules you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.
Would you like to continue?
The Whole Act without Schedules you have selected contains over 200 provisions and might take some time to download.
Would you like to continue?
All content is available under the Open Government Licence v3.0 except where otherwise stated. This site additionally contains content derived from EUR-Lex, reused under the terms of the Commission Decision 2011/833/EU on the reuse of documents from the EU institutions. For more information see the EUR-Lex public statement on re-use.
